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| TITLE |
PSM increases prices of steel products |
| WRITER |
administrator |
DATE |
2009-08-18 10:02:48 |
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PSM increases prices of steel products
17 Aug 2009
The Nation reported that the Pakistan Steel Mill has amplified the existing prices of all its major steel products in the backdrop of high steel prices in the international and local market. PKR 1,000 per tonne to PKR 2,500 per tonne increase has been announced which would be effective from 15th of August.
The prices of billets, the major steel product has been increased by PKR 1,000 per tonne, previously, the rates were from PKR 38,000 per tonne to PKR 40,200 per tones. Now, the new prices are between PKR 39,000 per tonne to PKR 41,200 per tonne.
On the other hand, the price of hot rolled products witnessed PKR 2000 per tonne hike, the product was of PKR 50,000 per tonne to PKR 49,000 per tonne and from now onwards it is of PKR 52,000 per tonne to PKR 51,000 per tonne.
The cold rolled products have also increased up to PKR 2000 per tonne. Previously the prices were between PKR 62,300 per tonne to PKR 57,700 per tonne. But after this increase, new prices will be PKR 64,300 per tonne to PKR 59,700 per tonne.
The galvanized products have also witnessed price hike of PKR 2000 per tonne. From August 15th 2009 the prices will be in between PKR 61,000 per tonne to PKR 66,800 per tonne.
According to the sources in PSM, the rates of above mentioned products have been increased in the context of current financial condition of Mill that has forced to increase the prices in order to curtail the losses during production and sales.
The source said that the 2 shipment of raw material from Iran had arrived with the raw material of around 80,000 tonnes. Few more ships of iron ore are expected to arrive at PSM. He added that the production of PSM is now increased by 70% to 80% this will help to curtail the losses that have been generated during last few months.
Resource from the Nation.com |
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