Given the continuous increase in raw material prices and costs of production, major Pakistani rebar producers have decided to revise their offers prices upwards.
Accordingly, new offers from Amreli Steels for G-60 rebar (10-12mm) have been increased by PKR 8,000/mt ($35/mt) to PKR 235,000/mt ($1,028/mt) ex-works, effective from January 10. Besides, offers from Agha Steel, the only 100 percent EAF-based steel mill in the country, have settled at PKR 233,500/mt ($1,021/mt) ex-works for G-60 rebar (10-12mm), up by PKR 4,000/mt ($17/mt), while Naveena Steel Mills has raised its offers to PKR 233,000/mt ($1,019/mt) ex-works. Meanwhile, the tradable levels for rebar in Pakistan have remained at around PKR 228,000/mt ($997) ex-works.
Furthermore, G-60 (16 mm and above) rebar in the domestic market in Pakistan is available at PKR 231,000-233,000/mt ($1,010-1,019) ex-works.
At the same time, import offers for ex-UK shredded scrap in containers have been heard at $465/mt CFR for January shipment, the same as last week.
All prices on Pakistani rupee basis include 17 percent VAT.
$1 = PKR 228.65