Pakistan based re-rollers are actively importing HRC from major exporting nations at higher prices, traders told SteelMint.
The country mainly booked from Japan and Turkey for Sep & Oct shipments, which are mentioned below:
Japan books 25,000 t HRC –A Japanese steel mill booked a 25,000 t HRC shipment to Pakistan at $488/t CFR basis for Oct’20 shipment. Earlier this month, a Japanese mill had sold a 25,000 t HRC shipment at $445/t CFR basis for Aug shipment.
Turkey books 40,000 t HRC – Turkey’s largest steel producer, Erdemir, concluded a deal of around 40,000 t HRC at $475-495/t CFR basis for Sep shipments. Last week the country booked around 15,000 t shipment at $480-485/t CFR basis for Sep’20 deliveries.
Imported HRC offers from other exporting nations-
- Taiwan offers for HRC at $520/t CFR basis with bids at $495/t CFR basis. Last week, offers were at $485/t CFR basis.
- South Korea-based Posco offered at around $530/t CFR basis. No bookings have been reported yet.
- China is offering around $500/t CFR.
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