Pakistan’s flat steel manufacturers, International Steels Limited (ISL) and Aisha Steel, have announced a price reduction for CRC and galvanized coil for the domestic market. This marks the first adjustment in prices since February of this year.
Both ISL and Aisha Steel have decreased their prices by PKR 25,000 (USD 90) per ton compared to the rates announced in February.
The new prices set by ISL for CRC (1mm) stand at PKR 264,500 (USD 951) per ton EXW, while galvanized coil (1mm) is priced at PKR 273,850 (USD 985) per ton EXW. Aisha Steel is offering CRC (1mm) at PKR 264,550 (USD 951) per ton EXW, and galvanized coil (1mm) at PKR 273,900 (USD 985) per ton EXW.
Due to currency volatility, the prices decreased by USD 111 per ton in USD terms.
The above prices are without the 18 pct sales tax.
The recent price revision is attributed to the global downward trend in HRC prices. Additionally, the Pakistani currency has appreciated following the finalization of a Stand-By Arrangement (SBA) with the International Monetary Fund (IMF), valued at around USD 3 bln. This agreement aims to stabilize Pakistan’s economy, contributing to the recent positive currency performance.
1 USD / 278 PKR
