Pakistan: Bulk HRC import shipments rise sharply in Nov on active bookings

Bulk HRC import shipments in Nov '20 spiked up to 151,198 t in contrast with 33,679 t in the previous month. Japan remained the largest source of imports with a share of 55% followed by Turkey & Taiwan. Active bookings by end users post easing lockdown measures resulted in increased imports. Pakistan annually imports around 2 mn t HRC from major exporting nations.

Imported HRC offers up by $10 w-o-w
Imported HRC offers to Pakistan reported an increase on a steep hike in Chinese export offers and bullish global market trends. Offers from China have moved up by around $5-10/t w-o-w, SteelMint learned from its trade channels.

Current imported HRC offers to Pakistan

• Chinese HRC (SS400) offers are heard to be around $590/t CFR Pakistan and SAE 1006 at $600/t CFR. Last week the offers stood at $580-585/t CFR basis.
  
  
• Japan, South Korea, and Taiwan are offering HRC to Pakistan at a $635-640/t CFR basis.
  
  

Confirmed deals reported in Nov

• 6,000 t HRC booked from Taiwan- This week, SteelMint had reported an HRC deal of 6,000 t HRC at $600/t CFR Pakistan from Taiwan for Jan'21 shipments.
  
  
• 50,000 t HRC booked from Japan- Towards the beginning of the month, a Japanese mill was reported having booked around 50,000 t HRC (SAE1006) with Pakistan based re-rollers at a price range of $555-560/t CFR basis for Jan '21 shipments.
  
  
• 10,000 t HRC booked from South Korea- The deal was concluded at $545-555/t CFR Pakistan for Jan shipments booked at the beginning of the month.