Pakistani CRC importers cautious about placing orders
2015-08-21 09:09:19 [Print]
BEIJING (Asian Metal) 21 Aug 15 - Influenced by the stagnant demand from local customers and the narrowed margin in trading business, importers in Pakistan are very cautious about placing orders. The current import price of SPCC 1.0mm*1,220mm*C is USD355-370/t CFR Karachi, down by around USD10/t compared with that of last week. Insiders predict that it is hard for the price to rebound in the near future.
An importer from Lahore says that he receives a quotation of USD370/t CFR Karachi for SPCC 1.0mm*1,220mm*C from Indian suppliers, down by USD10/t compared with that of last week.
As he reveals, the demand from downstream consumers remains very weak at the moment and they just ask for inquiries but are unwilling to place firm orders. “The automobile industry, the downstream industry for CRC, develops slowly at the moment, causing less demand,” he says, adding that he learnt that prices of CRC in Indian domestic market are on the downward trend so he predicts that it is likely for his import price to decrease in the near future. He prefers to watch the market in the short term.
An importer from Karachi reports to Asian Metal that the price of SPCC 1.0mm*1,220mm*C he gets from China is USD355/t CFR Karachi, down by USD15/t compared with that of two weeks ago. The source has stopped importing activity since the beginning of August as he is bearing losses from the business.
Noted by the source, he usually imports 8,000 tons of CRC and HRC from China per month. However, he began to burden losses from the end of July. In order to avoid potential risks, he has no plan to import CRC or HRC this month. The source reveals that China’s suppliers have cut prices by USD10-15/t in recent two weeks influenced by the depreciation of RMB. However, he has an inventory of 3,000 tons of CRC imported at the price of USD390/t CFR Karachi a month ago. The source reveals that he has no confidence in the market recovery in the short term.
An importer from Lahore says that he receives a quotation of USD370/t CFR Karachi for SPCC 1.0mm*1,220mm*C from Indian suppliers, down by USD10/t compared with that of last week.
As he reveals, the demand from downstream consumers remains very weak at the moment and they just ask for inquiries but are unwilling to place firm orders. “The automobile industry, the downstream industry for CRC, develops slowly at the moment, causing less demand,” he says, adding that he learnt that prices of CRC in Indian domestic market are on the downward trend so he predicts that it is likely for his import price to decrease in the near future. He prefers to watch the market in the short term.
An importer from Karachi reports to Asian Metal that the price of SPCC 1.0mm*1,220mm*C he gets from China is USD355/t CFR Karachi, down by USD15/t compared with that of two weeks ago. The source has stopped importing activity since the beginning of August as he is bearing losses from the business.
Noted by the source, he usually imports 8,000 tons of CRC and HRC from China per month. However, he began to burden losses from the end of July. In order to avoid potential risks, he has no plan to import CRC or HRC this month. The source reveals that China’s suppliers have cut prices by USD10-15/t in recent two weeks influenced by the depreciation of RMB. However, he has an inventory of 3,000 tons of CRC imported at the price of USD390/t CFR Karachi a month ago. The source reveals that he has no confidence in the market recovery in the short term.
