Pakistani steelmakers offer discount on sheet steel

The Express Tribune said that due to lower demand combined with a slowdown in the international market, steelmakers in Pakistan are offering discounts on sheet steel. Prior to discount, prices for cold rolled coils and hot dipped galvanized coils fluctuated. JS Global notes in its research report that “sheet steel makers International Steels and Aisha Steel Mills have begun offering discounts for cold rolled coils as well as hot dipped galvanized coils. The decision was mainly based on the availability of cheaper rolls on the local market imported from South Africa and Europe.

On the other hand, global steel prices are falling amid the protracted trade war between the US and China, so huge discounts seem to be affecting the international situation in the Pakistani market. In early September, prices for steel scrap in the global market fell by more than $ 50, while over the past 10 months prices fell by $ 238 per tonne.