As anticipated, following an upward revision of Pakistani domestic prices for cold rolled (CRC) and hot dip galvanized (HDG) coils at the end of last week, a new price hike has been announced on Friday, February 10, given the increasing cost of raw materials coupled with the weaker national currency.
More specifically, following a PKR 15,000/mt ($55/mt) increase announced last weekend, on February 10 local prices for CRC and HDG have increased again by PKR 15,000/mt ($55/mt), compared to the previous offers.
According to market insiders, this move was “irreversible, to stay afloat” as the trade finance limits, which the steel industry is facing, coupled with the shortage of raw materials, have been putting the industry in jeopardy and causing severe production disruptions.
Thickness |
Producer |
|||||
Aisha Steel Mills |
International Steels Limited |
Hadeed Pakistan |
||||
PKR/mt |
$/mt |
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
CRC, 0.25-0.35 mm |
298,550-299,050 |
1,101-1,103 |
298,500-299,000 |
1,101-1,103 |
298,525-299,025 |
1,101-1,103 |
CRC, 0.5-0.9 mm |
290,750-292,050 |
1,072-1,076 |
290,700-292,000 |
1,072-1,076 |
290,725-92,025 |
1,072-1,076 |
CRC, 1-1.6 mm |
288,550-289,550 |
1,064-1,068 |
288,500-289,500 |
1,064-1,068 |
288,525-289,525 |
1,064-1,068 |
CRC 1.8-2.5 mm |
288,050 |
1,062 |
288,000 |
1,062 |
288,025 |
1,062 |
Thickness |
Producer |
|||
Aisha Steel Mills |
International Steels Limited |
|||
PKR/mt |
$/mt |
PKR/mt |
$/mt |
|
HDG, 0.25 mm |
317,550 |
1,172 |
317,500 |
1,172 |
HDG, 0.3-0.35 mm |
312,350-313,050 |
1,152-1,154 |
312,300-313,000 |
1,152-1,154 |
HDG, 0.4-0.6 mm |
303,650-310,550 |
1,120-1,145 |
303,600-310,500 |
1,120-1,145 |
HDG, 0.7-0.8 mm |
302,800 |
1,116 |
302,750 |
1,116 |
HDG, 1 mm |
298,900 |
1,102 |
298,850 |
1,102 |
HDG, 1.2-2 mm |
298,050 |
1,099 |
298,000 |
1,099 |
All prices on Pakistani rupee basis include 17 percent VAT.
$1 = PKR 271.23