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    Mohsin Munir

    Steel prices witness sharp decrease from 117 Rs/ton to 108 Rs/ton

    By Team Overc’s – Dec 21, 2019

    As per the steel dealers in the market, manufacturer companies have lowered the prices of all sizes steel to around 108-110 Rs/ton for Grade 60 in & around Lahore. For Islamabad prices of grade 60 steel are also in the range of 105-107 Rs/ton. Prices have come down from almost 117 Rs/ton. Reason for prices coming down is the recent strengthening of Rupee against dollar and decrease in scrap prices in international market. Similar trend is being witnessed for grade 40 steel prices of which are around 103-104 Rs/ton in Lahore region and 99-101 Rs/ton in Islamabad region.

    Mohsin Munir

    Steel prices surge past Rs 120000/ton mark again due to lock down

    By Team Overc’s – Apr 21, 2020

    As per the steel dealers in the market, manufacturer companies have increased the prices of all sizes steel to around 120K-121K Rs/ton for Grade 60 in & around Lahore. For Islamabad prices of grade 60 steel are also in the range of 115k-117k Rs/ton. Prices have gone up from almost 111k Rs/ton. Since the government announced lock down in entire country on March 24th 2020, factories production has come to halt and steel being produced by most of the imported raw material, import has come down to almost standstill due to the overall lock down in other parts of the world. Due to the shortage in steel stocks and no more new production, prices of steel have witnessed sharp increase. Falling value of Pak Rupee against dollar has also resulted in increase of steel prices.

    Mohsin Munir

    Cement prices go up by Rs50 per bag

    By Team Overcs: April 22, 2020

    LAHORE: After deliberating for months, cement companies in the north have raised prices by Rs50-60 per bag, industry officials said on Wednesday 22nd April 2020.

    Despite the lock down due to Covid19 in entire country and no significant demand of cement at all, joint meeting of cement manufacturers after a meeting decided to increase the prices by 10.5%.

    After the federal committee issued ordinance for the construction relief package announced by the PM, it was being predicted that the overall house construction cost will come down, however no amnesty or reduction in withholding taxes was given to cement and steel industry. On the contrary steel prices were increased by the steel manufacturers followed by the cement manufactures.

    However, with the recent hike of Rs50-60 per bag, cement prices in the region now stand at an average of Rs515-530 per bag. However, cement prices in the southern region remain unchanged and are unlikely to be raised in the near term with the average price already at a premium of 14% against its northern counterparts (average of Rs680 per bag), according to AKD Research report.

    Mohsin Munir

    Brick kilns association might go on strike from 31st July 2020

    By Team Overcs: July 17, 2020

    LAHORE: Brick kilns owners association (BKOAP) in meeting with FBR representatives announced that the brick kilns across Punjab region will go on strike from 31st July. Demands of brick kilns owners association is that the coal industry should be regularised and price control authority should be appointed to keep control on prices of coal. Since coal is the major fuel source for brick kilns, any abnormal increase in coal price has a direct impact on cost of production for bricks. Whereas the brick kilns owners can not increase the prices of bricks because of price control magistrates hence causing losses. Brick kiln owners also told the FBR representatives that prices of bricks/1000 for last 6-7 years have fluctuated in between 8000-9000 Pak Rs whereas coal has gone from 3000 Rs/ton to 7500 Rs/ton. Similarly labor costs and other raw material cost has also gone up. It is also to be noted that 3 months closure of brick kilns due to Smog issue also causes serious losses for brick kilns.

Viewing 4 posts - 16 through 19 (of 19 total)
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