Import HRC offers in Pakistan have continued to fluctuate within a narrow range, largely influenced by uncertainty in China amid ongoing volatility in HRC futures prices. In contrast, offers from other suppliers, including Japan and South Korea, have remained relatively stable, with several negotiations reported with Pakistani buyers this week.
Specifically, offers for ex-China Q235 HRC have settled at $495/mt CFR, down by $5/mt week on week, while offers for Q195 HRC from mills have been voiced at $487/mt CFR level, down by $3/mt over the past two weeks. According to sources, Pakistani customers have been discussing several deals with Chinese suppliers and are expected to push for additional discounts. Furthermore, offers for ex-China SAE1006 HRC have been estimated at $505/mt CFR.
As of August 19, HRC futures at Shanghai Futures Exchange are standing at RMB 3,484/mt ($484/mt), decreasing by RMB 68/mt ($9.5/mt) or 2.0 percent since August 12, while increasing by 1.4 percent compared to the previous trading day, August 11.
Meanwhile, according to sources, one of the Japanese mills plans to negotiate early next week with Pakistani buyers, targeting $505-510/mt CFR level, down by $5/mt on the lower end of the range over the past two weeks. Besides, negotiations for a big lot of ex-South Korea SAE1006 HRC have been heard at below $500/mt CFR, according to sources.
