June 14, 2022 (MLN): International Steel Limited (PSX: ISL), one of the major manufacturers of the flat steel industry, has increased the price of Cold Rolled steel (CRC) and Hot Dipped Galvanized Coil/Sheets (HDGC) by Rs7,000 per ton to Rs239,500 and Rs258,000 per ton, respectively.
The new prices will be effective from June 14, 2022, Topline Securities informed in a Tweet on Tuesday.
The rest of the industry players of flat steel will likely follow the same.
On Monday, Amreli Steel from long steel industry has also increased the booking rates to Rs.231,000/MT for size (9.5/10mm & 12mm) & Rs.229,000/MT for size (16mm & above).
Other manufacturers in the long steel industry (rebar) have increased steel rebar prices by Rs7,000 per ton in both the North and South regions to Rs226,000 per ton and 229,000 per ton, respectively.
This increase is attributable to the continuous and unprecedented increase in the cost of energy and highly volatile PKR-USD Parity.
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