Following the increase in local cold rolled coil (CRC) and hot dip galvanized (HDG) prices in Pakistan last month, on December 26, Pakistani producers have announced their new offers for local buyers at higher levels again. The main reason is the continuous growth in raw materials and import hot rolled coil (HRC) offers, though national currency has shown some strengthening against the US dollar over the past month.
More specifically, following a PKR 7,000/mt ($25/mt) increase announced last month, on December 26 local prices for CRC and HDG have been hiked by PKR 5,000/mt ($18/mt), compared to the previous offers. At the same time, the dollar-based quotations have increased by around $29/mt since November amid the appreciation of Pakistani rupee against the US dollar.
Meanwhile, import HRC prices have continued to increase in Pakistan mainly due to the bullishness of Chinese suppliers. More specifically, ex-China offers for SAE1006 HRC have been voiced at $620/mt CFR, up by around $20/mt over the past two weeks, and up by around $35/mt month on month, while ex-Japan and ex-Taiwan SAE1006 offers have been estimated at $620-630/mt CFR this week. Besides, according to sources, offers for ex-China Q235B HRC of higher grade 1.2 mm have been heard at $655/mt CFR for February shipment.
Furthermore, ex-China SS400/Q195 offers in Pakistan have increased to $590-600/mt CFR, against $580-590/mt CFR two weeks ago and up by $40/mt month on month.
|
Thickness |
Producer |
|||||
|
Aisha Steel Mills |
International Steels Limited |
Hadeed Pakistan |
||||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
CRC, 0.25-0.35 mm |
265,450-265,950 |
950-952 |
265,500-266,000 |
950-952 |
265,525-266,025 |
950-952 |
|
CRC, 0.5-0.9 mm |
257,950-259,050 |
923-927 |
257,700-259,000 |
923-927 |
257,725-259,025 |
923-927 |
|
CRC, 1-1.6 mm |
255,450-256,450 |
914-918 |
255,500-256,500 |
914-918 |
255,525-256,525 |
914-918 |
|
CRC 1.8-2.5 mm |
254,950 |
912 |
255,000 |
912 |
255,025 |
912 |
|
Thickness |
Producer |
|||
|
Aisha Steel Mills |
International Steels Limited |
|||
|
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
|
HDG, 0.25 mm |
284,450 |
1,017 |
284,500 |
1,017 |
|
HDG, 0.3-0.35 mm |
279,250-279,950 |
999-1,002 |
279,300-280,000 |
999-1,002 |
|
HDG, 0.4-0.6 mm |
270,550-277,450 |
968-993 |
270,600-277,500 |
968-993 |
|
HDG, 0.7-0.8 mm |
269,700 |
965 |
269,750 |
965 |
|
HDG, 1 mm |
265,800 |
951 |
265,850 |
951 |
|
HDG, 1.2-2 mm |
264,950 |
948 |
265,000 |
948 |
All prices on Pakistani rupee basis include 18 percent VAT.
$1 = PKR 279.49