CRC market inactive in Pakistan
2014-07-25 09:19:22 [Print]
BEIJING (Asian Metal) 25 Jul 14 - The current price of CRC in Pakistan remains flat for the time being, while the demand from downstream consumers is not strong enough. Insiders predict that it is unlikely for the price of CRC to increase in the short term.
A producer in Karachi says that his offer for SPCC 1.0mm*1,250mm*C is PKR90,000/t (USD914/t) with sales taxes excluded, the same as that of last week.
According to him, the CRC market this year is quieter than that of last year. “My production was 30,000tpm at the same period of last year, while it has been reduced to 20,000tpm since the beginning of this year,” he says, adding that he acts more cautiously as the demand from downstream industries is not strong. As far as he is concerned, it is hard for the CRC market to perform actively in the coming month.
A CRC trader in Karachi reports to Asian Metal that his offer for SPCC 1.0mm*1,250mm*C is PKR91,000/t (USD924/t) with sales taxes excluded, equaling to that of last week.
As he explains, the importing price of CRC with the above grade is USD640/t CFR Karachi, which has been on the downward trend for more than three months. “Ex-works prices of CRC from local steel mills are also declining slightly,” he says, adding the list price of CRC SPCC 1.0mm is PKR74,300/t (USD754/t) with sales taxes excluded, which is PKR1,500/t (USD15/t) lower than that of five months ago. In his opinion, with the absence of support from production cost, the market price of CRC is hard to increase in the short term. The source reveals that his sales volume is around 2,000tpm for the time being, which is less than that of 3,500tpm at the same period of last year.
A producer in Karachi says that his offer for SPCC 1.0mm*1,250mm*C is PKR90,000/t (USD914/t) with sales taxes excluded, the same as that of last week.
According to him, the CRC market this year is quieter than that of last year. “My production was 30,000tpm at the same period of last year, while it has been reduced to 20,000tpm since the beginning of this year,” he says, adding that he acts more cautiously as the demand from downstream industries is not strong. As far as he is concerned, it is hard for the CRC market to perform actively in the coming month.
A CRC trader in Karachi reports to Asian Metal that his offer for SPCC 1.0mm*1,250mm*C is PKR91,000/t (USD924/t) with sales taxes excluded, equaling to that of last week.
As he explains, the importing price of CRC with the above grade is USD640/t CFR Karachi, which has been on the downward trend for more than three months. “Ex-works prices of CRC from local steel mills are also declining slightly,” he says, adding the list price of CRC SPCC 1.0mm is PKR74,300/t (USD754/t) with sales taxes excluded, which is PKR1,500/t (USD15/t) lower than that of five months ago. In his opinion, with the absence of support from production cost, the market price of CRC is hard to increase in the short term. The source reveals that his sales volume is around 2,000tpm for the time being, which is less than that of 3,500tpm at the same period of last year.
