Eight Steel products' prices up

Pakistan Steel (PS) has raised prices of its eight steel products by Rs 500 to Rs 3,000 per tonne to match with the International market, dealers said. They said the PS had raised the prices of pig iron, billet products, MS thick plate, MS slab, runner scrape, HMLR and cold rolled coils in the wake of raw material price hike in the international market.
The price of all grade and quality of billets had been raised by Rs 1,000 per tonne, while the extra charges for special grade was increased by Rs 250 per tonne by the PS management, they said.
After the current upsurge, the price of billets 150X150 mm and billets 125X125 mm had reached Rs 33,300 per tonne as compared to Rs 31,800 per tonne previously (excluding sales tax), said the dealers. In addition, the prices of MS billets 90X90/ 100X100/ 105X105 mm had touched Rs 33,800-mark per tonne as against Rs 32,300
per tonne, MS billets 80X80/ 75X75 mm would now be available at Rs 34,150 per tonne as against Rs 32,650 per tonne available previously, MS billets 65X65 mm at Rs 35,000 per tonne as compared to Rs 33,500 per tonne previously and the prices of MS billets 50X50 mm reached Rs 35,500 per tonne as compared to Rs 33,000 per tonne previously (excluding sales tax), they said.
The prices of thick plate was raised by Rs 500 per tonne to Rs 1,500 per tonne and thick plate upto 29mm price reached Rs 34,050 per tonne from Rs 33,050 per tonne. Thick plate price of over 29mm upto 49 mm was raised by Rs 1,000 per tonne to Rs 32,800 per tonne, while over 49mm upto 64mm thick plate was increased by Rs 1,500 per tonne to Rs 31,500 per tonne, said the traders. The price of over 64 mm upto 99 mm thick plate had gone up by Rs 500 per tonne from Rs 28,000 to Rs 29,000 per tonne, they said.
The prices of four grades of cold rolled coils were also raised by Rs 500 to Rs 1,000 per tonne. The prices of cold rolled coils of over 0.90 and upto 1.20 x 915/1220/950 shot up by Rs 1,000 to Rs 44,000 per tonne.
While the prices of cold rolled coils of over 0.120 and upto 1.6 x 915/1220/950 reached Rs 43,500 with Rs 1,000 per tonne raise and over 1.6 cold rolled coils, the prices with Rs 500 per tonne increased to Rs 42,500 per tonne, they said. Galvanised unstored end cut and unstored GP-coil price has gone up by Rs 1,000 per tonne to Rs 36,000 and Rs 37,000 per tonne respectively.
The price of HMRL and runner scrap has shot up by Rs 3,000 to Rs 19,500 per tonne. The local market is compelled to procure the PS pig iron and other raw material, as the imported material prices are currently higher than the PS prices, market sources said.
The current upsurge in the prices of the billets will have a negative impact on the finished products of steel, including milled steel, which is the basic raw material of the construction industry.