ISLAMABAD: The Pakistan Association of Large Steel Producers (PALSP) Saturday stated that the steel prices in North Region have been reduced from Rs.194,000 per ton to Rs189,000 per ton for customers.

According to a statement of the PALSP issued on Saturday, this

short time offer is available where advance booking is made with payment and delivery are lifted within a week time.

The Secretary General of PALSP has further clarified that there is no change in the prices of international scrap, and power and gas tariff - instead during this time the cost of manufacturing and the cost of doing business has gone up. This reduction in prices is being offered by some steel units for a very short period with condition of full payment and commitment to affect deliveries with 7-10 days.

The prices are likely to rebound and come back to level of Rs,194,000 as the rainy season shall be over. This discount offer is by some steel mills to off load their stocks and it’s not a general price reduction by all industrial units. The buyer must take advantage of this situation. The prices of steel shall jump again as rainy season passes in next two to three weeks, it added.

Copyright Business Recorder, 2022