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Steel prices to increase on electricity price hike - PSM09.08.2013The Express Tribune reported that Pakistan Steel Manufacturers Association, a lobbying group of steel makers, Wednesday August 7th said that they will pass on the recent increase in electricity prices as it would increase steel prices by PKR 5,000 a tonne.
PSMA said that the weighted average unit tariff increase for peak and off peak is PKR 5.4 per unit. The off peak hours are 20 hours per day, whereas peak hours are 4 hours per day.
PSMA spokesman said that the cost of a billet would increase by PKR 4,320, while the cost of Rebars and Wire Rods are to be increased by at least PKR 5,022 per tonne.
He said that “This is just the direct cost of the rerolled product that does not account for value of falling dollar by over 4% in the last few months.”
Source – The Express Tribune
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