Pakistan overall Trade which was on the boom last week, slowed down. The buyers and sellers are in a state of wait and watch till the market settles.
Domestic
Pakistan domestic market for billet and TMT face slow down as the mills have overflowing stocks but overall demand is good because of the domestic projects running in the country and current projects with China.
Local billet price stand different at different ports – in Karachi it is at 62,000 Pakistan Rupees per tonne ( USD 589/MT) and at Islamabad it is said to be at 65,000 Pakistan Rupees per tonne (USD 617/MT).
Local TMT is said to be at about 70,000 pakistan rupees per tonne (USD 665/MT).
Global
The price offers for Billet in Pakistan according to a trader in pakistan are CC Billet at 70,000 Pakistan Rupees per tonne (USD 665/MT).
The price offer for imported TMT is houvering at 72000-75000/tonne (USD 684-712/MT),
The buyers are not willing to import fresh stock from the global market because of the congestion at the ports and because of the imposed Anti-Dumping duties by the government on the imported material.
According to market source, “The prices have gone up by 15% after the budget passed this year, as power charges were increased which made the cost of production go higher.”
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