KARACHI - The Pakistan Steel Mill (PSM) has increased its basic price for galvanised material by Rs3000 per ton. The current prices of galvanised coil stood at Rs 71,800/ton after the increase, while the previous prices were Rs 68,800/ton. However, the average price for galvanised material stood at Rs 80,000/ton for its all production range. It was found that PSM was not producing galvanised material for last four months, and now it is in air that they have made something new in its galvanised range, that is why they have increased the prices of the material by Rs 3,000. The current prices of the galvanised coils (prime) all grades after the increase are as follows; up to 0.55 mm x 915/950/1220: prices 71,800, over 0.55 and up to 0.60 x 915/950/1220 prices 71,300, over 0.60 and up to 0.65 x 915/950/1220 prices 70,700, over 0.65 and up to 0.70 x 915/950/1220 prices 70,200, over 0.70 and up to 0.75 x 915/950/1220 prices 69,700, over 0.75 and up to 0.80 x 915/950/1220 prices 69,300, over 0.80 and up to 0.85 x 915/950/1220 prices 68,800, over 0.85 and up to 0.90 x 915/950/1220 prices 68,300, over 0.90 and up to 1.00 x 915/ 950/1220 prices 67,800, over 1.00 and up to 1.5 x 915/950/1220 prices 67,400, and over 1.5 mm prices 66,900. While the increase in the prices of Corrugated G.I Sheet stood for up to 0.65mm prices Rs6,600, over 0.65 and up to 0.70mm Rs66,100, and over 0.70mm prices Rs65,700. It is to be noted that the prices for the same products on August 28 this year were as follows; up to 0.55 mm x 915/950/1220 prices Rs68,800, over 0.55 and up to 0.60 x 915/950/1220 prices Rs68,300, over 0.60 and up to 0.65 x 915/950/1220 prices Rs67,700, over 0.65 and up to 0.70 x 915/950/1220 prices Rs67,200, over 0.70 and up to 0.75 x 915/950/1220 prices Rs66,700, over 0.75 and up to 0.80 x 915/950/1220 prices Rs66,300, over 0.80 and up to 0.85 x 915/950/1220 prices Rs65,800, over 0.85 and up to 0.90 x 915/950/1220 prices Rs65,300, over 0.90 and up to 1.00 x 915/950/1220 prices Rs64,800, over 1.00 and up to 1.5 x 915/950/1220 prices Rs64,400, and over 1.5 mm prices Rs63,900. The prices for Corrugated G.I Sheet in the same period for up to 0.65mm prices Rs66,600, over 0.65 and up to 0.70mm prices Rs66,100, and over 0.70mm prices Rs65,700. However, the beneficiaries of the PSM termed it unjustified decision especially when there is no price surge in international steel market, yet the increase will lead to the price hike in the range of finished products made by the said material such as air conditioners, doors, parts of vehicles etc.