Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Pakistan Steel raises prices of major products
04-03-2010, 12:48 PM
Post: #1
Pakistan Steel raises prices of major products
By Moonis Ahmed

KARACHI: Pakistan Steel has made a fresh increase in prices of its major products including hot rolled, cold rolled, galvanised steel and billets ranging between Rs 2,000-4,000, following the rise in international market, market sources told Daily Times.

On March 13, it had increased the rate of HR coil, CR coil, galvanised and other products between Rs 1,000-Rs 4,000, to reach Rs 59,700 per tonne, Rs 71,300 and Rs 76,800 per tonne respectively. Furthermore, the prices of billets had witnessed a substantial increase of Rs 4000 to reach Rs 52,500 as against Rs 48,000 previously.

According to the sources, PS has raised prices of hot rolled products by Rs 4,000 to reach Rs 63,700 as compared to Rs 59,700 previously; on cold rolled products, prices have been raised by Rs 4,000 to reach Rs 75,300 from Rs 71,300 previously. Galvanised steel rates have gone up to Rs 80,800 from Rs 76,800, showing an increase of Rs 4,000.

Billets prices have also witnessed an increase of Rs 3,000 as the prices stand at Rs 49,000 as compared to Rs 46,000 previously. Whereas, Prices of thick plate have also been raised by Rs 4,000.

Sources said because of the continuous price hike in international steel prices, PS has also raised its prices, as there is almost a $100 per tonne difference on all major steel products in international market.

Hot rolled and cold rolled prices after witnessing an upsurge of $100 per tonne in just last 15 days and now stand at $670-$690 hot rolled and $800-$805 cold rolled, they said.

During the last couple of months, countries including India, Bangladesh and Turkey have bought a huge quantity of steel from international market, and a further increase in steel prices in international and local market is expected during couple of months.

Apparently, this global phenomenon has forced steel mills all over the world to substantially increase prices of all products. They further said that customs has increased the ITP on different steel products for local importers that is also said to have a net price impact of Rs 2500-4000. They said that the increase would add around Rs 2,500-4,000 on the prices of various steel products in domestic markets that might hit demand and sales. This is pertinent to mention that PS made a loss of Rs 22.1 billion in 2008-09 against a pre-tax-profit of Rs 3.6 billion in the previous fiscal year, whereas, the company has faced losses of more than Rs 6 billion in six months of the current fiscal year.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Surge in Domestic Steel Prices Linked to Escalating Raw Material Expenses LRE-Azan 0 126 01-09-2024 03:44 PM
Last Post: LRE-Azan
  Federal Board of Revenue (FBR) to Introduce Retailer Tax in Five Major Cities LRE-Azan 0 167 01-06-2024 05:25 PM
Last Post: LRE-Azan
  Steel Prices Experience a Decline as the Rupee Gains Strength Against the US Dollar LRE-Azan 0 179 12-19-2023 02:32 PM
Last Post: LRE-Azan
  LDA Major Infrastructure Projects in Lahore to Open to Traffic This Month LRE-Azan 0 210 11-08-2023 06:52 PM
Last Post: LRE-Azan
  Decline in Steel Prices Continues as Pakistani Rupee Strengthens Against USD LRE-Azan 0 221 10-25-2023 05:23 PM
Last Post: LRE-Azan
  Steel Bar Prices Witness a Significant Drop, Offering Relief to the Construction Sect LRE-Azan 0 203 10-13-2023 07:53 PM
Last Post: LRE-Azan
  LDA Demolishes 35 Illegal Properties in a Major Crackdown LRE-Azan 0 335 09-11-2023 01:11 PM
Last Post: LRE-Azan
  Lahore Development Authority (LDA) Launches Major Crackdown on Illegal Commercial Act LRE-Azan 0 797 01-20-2023 06:15 PM
Last Post: LRE-Azan
  CDA chairman inspects work on major avenues in capital Salman 0 4,361 03-10-2014 04:45 PM
Last Post: Salman
  Pakistan floats tender for major road construction Salman 0 8,464 09-02-2013 12:48 PM
Last Post: Salman
  Lahore undergoes major ‘surgery’, Salman 0 4,140 02-11-2012 05:57 PM
Last Post: Salman
  CDA raises housing societies fee Salman 0 3,572 01-19-2012 12:27 PM
Last Post: Salman
  Huge potential for marble products export: Trade missions can fetch billions of dolla Salman 0 4,560 01-05-2012 04:43 PM
Last Post: Salman
  Expo helps entrepreneurs show products to foreign buyers Salman 0 4,282 10-25-2011 12:22 PM
Last Post: Salman
  Pakistan Steel acting CEO suspended Lahore_Real_Estate 0 3,373 01-29-2011 02:26 PM
Last Post: Lahore_Real_Estate
  hindu extremists major threat for india LRE 2 7,671 01-08-2011 01:58 AM
Last Post: LRE
  Federal Bureaucrats a Major Hurdle in Baluchistan Uplift LRE 0 3,642 10-26-2010 09:46 AM
Last Post: LRE
  Petroleum products prices: Refineries, OMCs not to charge more than benchmark rate Lahore_Real_Estate 0 3,551 10-25-2010 03:50 PM
Last Post: Lahore_Real_Estate
  Indus Motor raises car rates by Rs 25,000-35,000 Lahore_Real_Estate 0 3,548 09-16-2010 12:01 PM
Last Post: Lahore_Real_Estate
  Musharraf raises Rs250m for flood-hit: news channel Lahore_Real_Estate 0 3,413 09-14-2010 12:19 PM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 1 Guest(s)