Pakistan Steel Cuts Quotes

The state-owned Pakistan Iron & Steel Company cut the prices of hot and cold coils by Rp1200-1400/t (13-15 US$/t) and 500-3300 Rp/t (5-35 US$/t), respectively.

With the global steel market down, combined with local political and economic problems, Pakistan's domestic steel companies are gloomy. At present, Pakistan’s state-owned steel company can produce 1.1 million tons of crude steel at the beginning of the year, but it maintains a low operating rate for a long time. At the beginning of this year, the company's operating rate was 20%, and it has been improved. In order to boost sales, the company lowered the price of HRC from the previous 688,000-70,000 Pakistani rupees per ton (725-738 US dollars / ton) to 674-68,600 Pakistani rupees / ton (711-723 US dollars / ton); The offer price dropped from 75.4 thousand Pakistani rupees/ton (US$795/ton) to 74,900 rupees/ton (US$790/ton), but the 0.55mm thick cold coil offer was raised by 3,300 Pakistani rupees/ton to 80,400 Pakistani rupees/ton. ($848/ton).