The Pakistan Steel Mills (PSM) on Saturday raised the prices of billets, M.S slabs, M.S. thick plates and M.S. hot rolled products by Rs 500 to Rs 2,000 per tonne. The PSM had increased the price of different products including billets by Rs 500 to Rs 1,800 on February 19, 2007.
Sources said that PSM had to raise the prices on Monday in the wake of increasing demand and rising raw material prices. The PSM has increased billets prices of all sizes by Rs 2,000. Price of cast billets 150X150 mm and cast billets 125X125 mm have reached Rs 35,100 per tonne as compared to Rs 33,100 per tonne previously (including Sales Tax).
In addition the prices of billets 90X90 100X100 105X105 mm have touched Rs 35,600 per tonne against the previous Rs 33,600 per tonne, billets 80X80/ 75X75 mm would now be available at Rs 35,950 per tonne as against Rs 33,950 per tonne available previously, billets 65X65 mm at Rs 36,800 per tonne as compared to Rs 34,800 per tonne previously and the prices of MS billets 50X50 mm reached Rs 37,300 per tonne as compared to Rs 35,300 per tonne previously (including Sales Tax).
Similarly, the prices of bloom 260X260 reached Rs 35,400 per tonne from Rs 33,400 pre tonnee, billets grade 6&7 100X100 mm and 75X75mm would be available now at Rs 37,300 and Rs 37,550 per tonne respectively as compared to Rs 35,300 and Rs 35,550 per tonne previously, billet grade SUP 9 100X100mm reached Rs 38,300 per tonne from Rs 36,300 per tonne and price of billets 75X75mm reached Rs 38,550 from Rs 36,550 per tonnee (including Sales Tax).
MS thick plates prices on all sizes have also been raised between Rs 1,500 to Rs 2,000 per tonne and price of up to 29 mm has reached Rs 33,050 per tonne as compared to Rs 31050 per tonne previously and price of over 29up-to 49 mm MS thick plates Rs 30,800 per tonne from Rs 28,800 per tonne (excluding Sales Tax).
In addition the prices of thick plates 49up-to 99 mm have been increased by Rs 1,500 and over 49 up to 99 mm thick plates have touched Rs 28,500 per tonne against the previous Rs 27,000 per tonne (excluding sales tax).
The PSM has increased prices of M.S slabs by Rs 1,000 and prime quality slabs would be available at Rs 29,500 per tonne as against Rs 28,500 per tonne and rejected slabs at Rs 27,500 per tonne as against Rs 26,500 per tonne (excluding Sales Tax).
Source said that PSM raised the prices of all hot rolled coil products by Rs 500 on Thursday and its prices have reached Rs 36,550 per tonne (excluding sales tax).
The local market is compelled to procure the billets and other raw material, as the imported material prices are currently higher than PS prices, market sources said.
"Yes the Pakistan Steel have raised the price of billets, hot rolled coils, M.S slabs and M.S Thick plates by Rs 500 to Rs 2,000 per tonne on Saturday" said Lieutenant Colonel Ghulam Rasool head of public relation officer when Business Recorder contacted.
He said that this is the minimum increase in the PS products due to the international market, as in the international market the price of billets has increased by $0 73 per tonne. "We just have raised the price of billets by Rs 2,000 per tonne" he added.