PSMC raises prices of seven products

Pakistan Steel Mills Corporation (PSMC) on Friday announced to raise the prices of seven steel products by up to Rs 4,000 per ton, dealers said. This is the second increase in PSMC's products prices during last three weeks, as previously prices were increased in the second week of March.
They said that PS has raised the prices of MS billets, Cold Rolled Coils, Hot Rolled Coils (HRC), galvanised products (GP Sheets), Chequered Plate, thick plate and pig iron to rationalise its products' prices in line with international market. Prices of steel in the world market are gradually increasing due to the rising demand, traders said, and added that some 200-250 dollars per ton increase has registered in different steel products during last two months in the international market.
Dealers said that PSMC has raised the prices of seven steel products just after increase in the Import Trade Price (ITP) of some three major steel products by Customs Valuation. Although the PSMC announced to increase prices on Friday, but the price list posted at the Mills' website was not updated, they added.
The prices of all grades and quality of billets have been raised by Rs 3,000 per ton and after the current upsurge, the price of billets 150X150 mm and billets 125X125 mm had reached Rs 49,000 per ton as compared to Rs 46,000 per ton previously (excluding sales tax), dealers said.
The prices of MS billets 90X90/100X100/105X105mm have touched Rs 49,500 mark per ton and MS billets 80X80/ 75X75 mm would now be available at some Rs 49,850 per ton (excluding sales tax). MS billets 65X65 mm prices has reached Rs 50,700 per ton and the prices of MS billets 50X50 mm marked at Rs 51,200 per ton (excluding sales tax), they said.
The prices of HRC and CRC have increased by Rs 4,000 per ton. The prices of HRC products up to 2.35 mmX1000X1220mm have gone up to Rs 63,500 per ton, while price of 3.25 & up to 3.65X1000mm/1220/1500 has touched new peak of Rs 63,100 per ton (excluding taxes).
PSMC's CRC would be now available at minimum price of Rs 70,700 and maximum price of Rs 75,300 per ton (excluding sales tax) in the local market. The PS has also raised prices of galvanised products by Rs 4,000 per ton and after this upsurge, the prices of galvanised coil prime have reached at Rs 80,800 per ton in the domestic market (excluding sales tax). The prices of Thick plate, pig iron, and Chequered Plate have also increased by Rs 4,000 per ton by PSMC.