Pakistan Steel Producers Offer Discount on Flat Steel

Release time：Nov 08, 2019 From：admin

Express Tribune reported that owing to declining demand coupled with a slowdown in the international market, steel producers in Pakistan are offering a discount of PKR 5,000 per tonne on the sale of flat steel. Prior to the discount, the prices of cold-rolled coils and hot-dipped galvanised coils were hovering at PKR 108,500 and PKR 115,850 respectively. JS Global in its research report said that “Producers of flat steel namely International Steels and Aisha Steel Mills have started offering a discount of PKR 5,000 per ton on both cold-rolled coils as well as hot-dipped galvanised coils. The decision has been taken mainly keeping in view the availability of cheaper coils, imported from South Africa and Europe, in the local market.”

On the other hand, global steel prices are falling on the back of a prolonged US-China trade war, therefore, the massive discount seems to be an impact of the international situation on Pakistan’s market. In early September, steel scrap prices in the global market dropped over USD 50 while in the past 10 months, the prices dipped USD 238 per tonne.