Pakistan Steel Mills, the producer of the long rolled steel and heavy metal products and entities in the country announced to cut the prices of hot rolled coils and cold rolled coils by PKR1,200~PKR1,400/ton and PKR500~PKR3,300/ton respectively
It's known that several steel mills in Pakistan have faced difficulty in operating business due to weak global steel market, local political and economic issues.
At present, Pakistan Steel Mills operates low capacity utilization rate.