Imported Chinese HRC offers to Pakistan drop by $20/t w-o-w

A few indications for Chinese-origin HRC (SS400) were heard at around $695-700/t CFR Karachi, down by around $20/t from previous week’s assessment of $720-725/t CFR. In conversation with market participants, SteelMint learnt that demand for imported HRC remains weak amid volatile global prices, arrival of monsoon, upcoming Eid holidays and Line of Credit (LC) opening issues.