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213 news items from Pakistan. Show all
The Pakistan Credit Rating Agency Limited (PACRA) has downgraded Amreli Steels Limited's entity ratings from "BBB" to "BB" for long-term and "A3" for short-term, with a negative outlook. PACRA highlighted the severe…
Pakistan's scrap imports saw a slight decrease of 0.36pct YoY in August 2024, according to the Pakistan Bureau of Statistics. The country imported 211,700 tons of scrap that month, down from 212,455 tons in August 2023…
Pakistan experienced a 28.5pct YoY decline in finished steel imports in August 2024, as reported by the Pakistan Bureau of Statistics. In August, the country imported 166,516 tons of finished steel, a decrease from…
Pakistan's Agha Steel Industries Limited reported a loss of PKR 5 bln (USD 18.3 mln) for the fiscal year ending June 30, 2024, marking a sharp reversal from the PKR 980 mln profit recorded in the previous fiscal year…
Pakistani long steel producer Amreli Steels announced plans to temporarily suspend operations at its Karachi plant due to significant economic challenges, according to a stock exchange filing. The company's board of…
Mughal Steel, a Pakistani steel producer, announced that its board of directors has approved the balancing, modernization, and replacement (BMR) of the existing steel bar re-rolling mill, according to a stock exchange…
The Pakistani government is exploring a proposal to establish a new steel mill in Karachi in cooperation with Russia, following an agreement to form working groups to advance the project. During a meeting with Aleksei…
The Competition Commission of Pakistan (CCP) has issued show cause notices to 10 steel structure suppliers for alleged collusive bidding in procurement tenders by various Distribution Companies (DISCOs). The companies…
Pakistan's National Tariff Commission (NTC) has launched an investigation into the alleged circumvention of antidumping duties on Chinese galvanized coils and sheets imports. The investigation was launched following an…
In July 2024, Pakistan's scrap imports rose by 15.6pct YoY, as reported by the Pakistan Bureau of Statistics. The country imported 210,786 tons of scrap that month, compared to 182,340 tons in July 2023. For the first…
In July 2024, Pakistan's finished steel imports increased by 19.5pct YoY, according to the Pakistan Bureau of Statistics. The country imported 240,779 tons of finished steel that month, up from 201,457 tons in July…
Pakistan's Agha Steel Industries Limited has announced that it has received a notice of Public Announcement of Intention from Fauji Foundation, which has expressed its interest in acquiring shares and control of the…
Pakistani flat steel producers, International Steels Limited (ISL) and Aisha Steel, have announced new prices for CR and galvanized coil products in the domestic market. ISL's CRC (1mm) is priced at PKR 211,500 (USD…
Crescent Steel and Allied Products Limited has secured an agreement with the joint venture of China Harbour Engineering Company Limited (CHEC) and Al-Fajr International (AFI) to supply an additional quantity of coated…
Chinese electric vehicle giant BYD announced plans to open a car production plant in Pakistan, partnering with Mega Motors to sell three models. The company will establish three flagship stores and experience centers in…
In June 2024, Pakistan's scrap imports fell by 6.65pct YoY, according to the Pakistan Bureau of Statistics. The country imported 216,809 tons of scrap that month, down from 232,245 tons in June 2023. This marks the…
In June 2024, Pakistan's finished steel imports rose by 20.3pct YoY, as reported by the Pakistan Bureau of Statistics. The country imported 260,358 tons of finished steel that month, up from 216,409 tons in June 2023…
Pakistan's Large-Scale Manufacturing (LSM) sector witnessed a 7.33pct YoY growth in May, marking its sixth consecutive monthly increase, according to the Pakistan Bureau of Statistics. The LSM sector also grew by…
The Pakistani government has increased duties on a range of imported products, including several steel items, to reduce financial losses as the country seeks to secure a loan agreement of over USD 6 bln with the…
Pakistani rebar manufacturers have raised prices by PKR 5,000 (USD 18) per ton, effective July 1, 2024, in response to rising production costs. The current price range is now between PKR 266,500-268,500 (USD 955-962)…
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