KARACHI - The Pakistan Steel Mill (PSM) has increased the prices of all its major steel products from Rs 1,500 per ton to Rs 5,000 per ton. The price of Ammonium Sulphate has been declined by Rs 1,000. The product was of Rs 16,000 per 50 kg bag, now the price of same is Rs 15,000. The prices of billets, the major steel product, has been increased by Rs 1500 per ton, previously the price was Rs 35,500 per ton to Rs. 37,700 per ton. Now, the rates are Rs 38,000 per tones to Rs 40,200 per tones. The Cold Rolled Product (CR) has also increased up to Rs 3500 per ton. Previously the rate was between Rs 57,300 per ton to Rs 52,700 per ton, now the prices are between Rs 62,300 per tones to Rs 57,700 per tones. On the other hand, the price of Hot Rolled Product (HR) witnessed Rs 3000 per ton hike, the product was of Rs 45,000 per ton to Rs 44,000 per ton and from now onwards it is of Rs 50,000 per tones to Rs 49,000 per tones. The Unsorted Galvanized products have also witnessed price hike of Rs 5000 per tones. From 29th of July the prices will be in between Rs 43,400 per tones to Rs 46,500 per tones. The Unsorted Product (Hot Roll) was Rs 33,700 per ton to Rs 40,600 per ton, after the increment of Rs 4000 per tones, the rates of this product stands between Rs 39,700 to Rs 46,600 per tones. The Unsorted Product (Cold rolled) was Rs 32,900 per ton to Rs 41,900 per ton, now it is of Rs 38,900 per tones to Rs 47,900 per tones. According to the sources in PSM, the rates of above mentioned products have been increased in the context of increased cost of production and the current financial condition of mill that has forced to increase the prices in order to curtail the losses during production. Moreover, the source added that the shipment of raw material (iron ore) from Iran that had to be arrived at the port on 27th of July, has not come to port yet due to rough sea. The ship is now expected to arrive at the night of 29th July.