Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Pakistan-based Amreli Steel’s sales revenue increased to PKR39.22bn ($23.85mn) in FY2021 (July-June) from PKR26.53 in the prior year, stated the company’s report. Revenues rose on higher production and an improvement in steel prices and were offset by the rise in ferrous scrap prices.


The company’s steel production rose to 350,000mt in FY2021, up 26pc from the prior year, as reported by local media. Amreli’s sales volumes increased 33pc with the revenue per ton rising by 11pc from a year ago. During the fiscal year, the steelmaker increased prices by 5pc.


In FY2021, the company reported a net profit of PKR1.37bn compared to a net loss of PKR1.24bn in the prior year. 


Earlier in May, Amreli announced the expansion of its rebar capacity to 600,000mt from 200,000mt, as reported by Davis Index.


Amreli is focusing on retail market sales post the branding of its products. Steel demand in the country has improved amid higher developmental spending and revival of the construction sector. The government has given an amnesty package to builders who register their unfinished projects, thereby boosting construction activities. The upcoming hydro and housing projects also bode well for steel demand in the domestic market over the long term.

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