The Daily Times reported that Pakistan Steel Millhas increased the existing prices of its major steel products second time in a month following hike in the international steel prices.

The PSM announces increase of PKR 1,000 per tonne to PKR 2,000 per tonne on different products, which are effective from August 28th 2009.

The prices of billets has been increased by PKR 2,000 per tonne, previously billets were available from PKR 39,000 per tonne to PKR 41,000 per tonne. Now, the new prices are between PKR 40,500 per tonne to PKR 42,700 per tonne.

The price of HR also witnessed PKR 2000 per tonne hike, the product was previously PKR 51,000 to PKR 52,000 per tonne and now it is of PKR 53,000 per tonne to PKR 54,000 per tonne.

The CR price increased up to PKR 2000 per tonne. Previously price was between PKR 59,000 per tonne to PKR 64,000 per tonne. New prices are ranging between PR 61,000 per tonne to PKR 66,300 per tonne.

The Galvanized products have also witnessed price hike of PKR 2,000 per tonne. From August 28, the prices have been increased to PKR 63,000 per tonne to PKR 68,800 per tonne.

(Sourced from The daily Times)