According to the data released by Pakistan Bureau of Statistics, finished steel imports into Pakistan have increased by 19.48 pct in 2017 YoY. The total quantity imported in 2017 was 3.984 mln tons as compared to 3.334 mln tons in 2016.
In the absence of Pakistan Steel Mills, private sector has invested heavily in steel imports to cater to the local demand. The surge in investment is also due to the government support in terms of protective policies, i.e. antidumping and regulatory duties on finished steel products as well government motive to save valuable foreign exchange. In flat steel production, International Steels Limited is expanding their production to one mln tons, while another manufacturer, Aisha Steels, is already commissioning 250,000 tons capacity galvanized line. Similarly many major long steel manufacturers are expanding to meet the rising domestic steel demand.
As Pakistan Steel Mills is inactive, there is no hot rolled coil manufacturer which is the main raw material for two major domestic flat steel producers as well as for pipe manufacturers. Other products like wire rod and stainless steel is also not produced by domestic mills, thus finished steel imports are likely to grow this year too.
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