The demise of Pakistan Steel Mill

[Nike]

hmm Indonesia steel sector balancing itself between import and self production (private and State owned company). Somehow you still need competitor to made your own industry competitive and innovative but a much stronger competitors (China, India, South Korea and Japan) is giving too much punch to your own industry. So the gov. protected them by giving them preferential treatment in market (especially in gov. projects), put safeguard levy against imported steel and tax exemption for importing the raw material.

 

[niaz]

At this point in time, Chinese are dumping steel in the international market. Therefore difficult decision whether to buy steel from China or to invest in a Capital intensive steel mill.

For example:






Commodities
Steel, Iron-Ore Prices Take a Slide in China
Increasing stockpiles and Beijing’s call to rein in asset bubbles are weighing on the market.

A Chinese worker loads steel tubes onto a truck at a logistics center in Lianyungang in east China's Jiangsu province on November 8, 2016. Chinese exports sank for a seventh consecutive month in October, data showed on November 8, as weak global demand dealt a blow to the world's number two economy following recent signs of stability. / AFP PHOTO / STR / China OUTSTR/AFP/Getty Images Published Credit: Agence France-Presse/Getty Images Published Credit: Agence France-Presse/Getty ImagesPhoto: Agence France-Presse/Getty Images

Another News item

Global steel prices continue to fall, India may follow
Experts say prices in India might fall another 3-4% by year-end
Malini Bhupta | Mumbai November 20, 2014 Last Updated at 21:36 IST

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India has also seen steel imports surge. In the financial year to date, India's steel imports have risen 35 per cent, while imports from China are up 135 per cent, claim analysts. Analysts believe prices are expected to remain depressed in the near term. Despite a sharper fall in the global markets, domestic prices have declined three to four per cent. Analysts expect a further three to five per cent fall in prices by December-end. Margins and realisations of domestic steel producers are expected to contract in the second half of the financial year. The metals sector has significantly underperformed the Street's expectations on earnings even in the September quarter and the disappointment is expected to continue. Most brokerages are in the process of downgrading the earnings estimate of domestic producers.

Metal stocks have rallied in the past six months, as input prices declined and Indian steel companies imported iron ore, thanks to shortage in India. However, most of the raw material price gains have been priced in and a further decline these prices will push down realisations much faster. Iron ore prices have continued to tumble in the global markets, with the 62 per cent grade ore declining by six per cent in the fortnight ended November 17 and 58 per cent grade ore declining by three per cent. Emkay Global says after maintaining prices for four months despite a decline in global prices, NMDC, too, revised prices for lumps downwards by Rs 200 a tonne, keeping prices for fines unchanged. However, the brokerage does not expect a sharp fall in steel prices, though they might remain weak. While many steel producers have hinted at price hikes in January 2015, analysts believe this may prove to be difficult.

 

[Team. Moonis Elahi]

It is high time for the Govt to get rid of PSM along with PIA and Pakistan Railways.

What is the use of CSS passed persons if Govt can't run a business? It is a great source of income rather than bleeding the nation for taxes. Clearly the only use of CSS govt employees is attestation because every decision is made by ministers. these govt servants are only burden on economy.

 

[Panther 57]

What is the use of CSS passed persons if Govt can't run a business? It is a great source of income rather than bleeding the nation for taxes. Clearly the only use of CSS govt employees is attestation because every decision is made by ministers. these govt servants are only burden on economy.

Only if CSS people follow what Quid e Azam asked them to do during his address.

 

[Team. Moonis Elahi]

Only if CSS people follow what Quid e Azam asked them to do during his address.

True. Only if PMLN would've let them.

 

[Panther 57]

True. Only if PMLN would've let them.

My friend it is not only PMLN. All those who were and are in power corridor. Our bureaucracy has been corrupted to the maximum level because military dictators will come and go. Politicians will come and go. Only they are the ones who will stay. They teach all of them the ways to plunder and in the bargain stack billions in their basements.