Pakistan Steel on Saturday announced raise in the prices of seven steel products by up to Rs 4,000 per ton, dealers said. They said that PS has raised the prices of cold rolled, hot rolled, billets, copal plate, slab, galvanised products and chequered plat to rationalise its products prices in line with international market and just after increase in the import trade price (ITP) of three major steel products by customs.
The prices of all grades and quality of billets havebeen raised by Rs 4,000 per ton, and after this upsurge the price of billets 150X150 mm and billets 125X125 mm has reached Rs 46,000 per ton from Rs 42,000 per ton previously (excluding sales tax), dealers said. The prices of MS billets 90X90/100X100/105X105mm have touched Rs 46,500 mark per ton and MS billets 80X80/ 75X75 mm would now be available at Rs 46,850 per ton (excluding sales tax).
MS billets 65X65 mm price has gone up to Rs 47,700 per ton and the price of MS billets 50X50 mm has reached Rs 48,200 per ton (excluding sales tax). The prices of hot rolled coils (HRC) and cold rolled coils (CRC) have been increased by Rs 1,000 and Rs 1,500 per ton respectively.
The prices of hot rolled products, up to 2.35 mmX1000X1220mm, have gone up to Rs 59,500 per ton, while prices of 3.25 & up to 3.65X1000mm/1220/1500 have touched new peak of Rs 59,100 per ton (excluding taxes).
CRC would now be available at minimum price of Rs 66,700 and maximum price of Rs 71,300 per ton (excluding sales tax). The prices of galvanised products have been increased by Rs 1,500 per ton and galvanised coil prime has reached Rs 76,800 per ton (excluding sales tax).
With an increase of Rs 1000, the price of chequered plat has reached Rs 66,500 per ton (excluding sales tax). The prices of copal plat and slab products have gone up by Rs 1,000 to Rs 44,500 per ton and Rs 500 to Rs 46,000 per ton (excluding sales tax) respectively. The current upsurge in prices of the billets and other raw material will have a negative impact on the finished products of steel, including milled steel, which is the basic raw material of the construction industry.