Aisha Steel vs ISL: Which Flat Steel Brand Should You Buy in Pakistan?

If you buy cold rolled (CRC) or galvanized (GP) coil in Pakistan, you deal with two names whether you want to or not: Aisha Steel Mills (ASL/ASML) and International Steels Limited (ISL). Together they supply the bulk of locally produced flat steel, and every dealer quote you receive traces back to one of them.

We are dealers for both mills, so this comparison is written from the middle of the market, not from either camp. The short answer: for CRC and GP the two mills are closer competitors than most buyers realise, and the real decision is usually about specification, stock and service — not the badge. The one clear product difference is colour coated steel, which only one of them makes.

The two companies at a glance

	International Steels (ISL)	Aisha Steel (ASML)
Parent group	International Industries Ltd (Amir S. Chinoy Group)	Arif Habib Group
Incorporated / production	2007 / 2010	2005 / 2012
Location	Karachi	Port Qasim, Karachi
Rated capacity	~1.0 million tonnes/year	~700,000 tonnes/year
Product range	CRC, Hot-Dip Galvanized, Colour Coated	CRC, Hot-Dip Galvanized
Colour coating line	Yes — ~84,000 tpa, 0.28–1.50 mm	No
Foreign shareholding	Sumitomo (~9%) and JFE Steel (~4.7%)	—
Listing	PSX: ISL (KSE-100 component)	PSX: ASL

Product range: where they genuinely differ

For cold rolled and galvanized coil, both mills produce to the international standards buyers specify in Pakistan — JIS G3141 (SPCC/SPCD) for CRC, and JIS G3302 / ASTM A653 / EN 10346 classes for galvanized, across the usual commercial thicknesses and coating masses (Z80 through Z275). In day-to-day trading, the two mills’ CRC and GP are treated as interchangeable for most fabrication, ducting, panel and drum applications.

The real difference sits at the coated end:

• Colour coated (PPGI/PPGL): ISL operates Pakistan’s only local colour coating line (roughly 84,000 tonnes per annum, 0.28–1.50 mm, in PE, SMP and PVDF paint systems). Aisha Steel does not produce colour coated coil. If your project needs locally made PPGI with a mill warranty, ISL is currently the only option; otherwise you are comparing ISL against imported PPGI from China, Taiwan or Korea.
• CRC and GP: both mills compete head-on. Neither has a structural product advantage for standard commercial grades.

Market position

According to the Competition Commission of Pakistan’s enquiry into the flat steel sector, local production shares (2022-23) run approximately ISL 39%, Aisha Steel 20%, Hadeed Pakistan 10%, with imports covering the remaining ~31% of the market. Independent equity research puts ISL’s share of the local galvanized market at around 45%. ISL also exports to more than 30 countries, which matters for one practical reason: when export demand is strong, local allocation of certain thicknesses can tighten.

Price: why the brand question is mostly not a price question

The two mills’ list prices move in near-lockstep — the CCP enquiry records a prima facie finding of coordinated pricing between them. In March 2025, for example, both lists sat around PKR 206,500 per tonne for CRC (ex-works, excluding 18% GST). In practice this means:

1. You will rarely find a meaningful price gap between the two brands on the same day.
2. The price differences that do exist in the market come from the dealer layer — stock age, payment terms, delivery, cutting — not from the mill.
3. If one brand is quoted significantly cheaper for “the same” spec, check the specification before celebrating: thickness tolerance, coating mass and whether the figure is BMT or TCT.

Quality and verification

Both mills supply prime material with mill test certificates. Whatever brand you buy, the discipline is the same: match the heat number on the coil tag to the MTC, confirm the coating mass is stated on a total-both-sides basis, and confirm thickness on the BMT (base metal thickness) basis. These checks matter far more to your end product than which of the two logos is on the tag.

So which should you choose?

Your requirement	Sensible choice
Locally made colour coated (PPGI)	ISL — the only local producer
Standard CRC/GP for fabrication, ducting, panels	Either — buy on same-day price, thickness availability and dealer service
Very thin or specific-tolerance specs	Whichever mill has your exact spec rolling that month; check with your dealer
Export-quality documentation	Both issue MTCs; ISL has the longer export track record
Brand-blind bulk buying	Take dealer quotes for both on the same day; they will be within a narrow band

For today’s rates on both brands, see our Daily Steel Prices page, updated every working day. We stock CRC ISL, GP ISL, CRC Aisha and GP Aisha.

Frequently asked questions

Is Aisha Steel better quality than ISL?

For standard CRC and GP grades, both mills produce to the same international specifications and are treated as interchangeable in the market. Quality differences buyers notice usually come down to individual batches, storage and handling after the mill — which is why MTC verification and proper storage matter more than brand.

Does Aisha Steel make colour coated (PPGI) sheet?

No. Aisha Steel produces CRC and hot-dip galvanized coil. Colour coated steel is made locally only by ISL; otherwise PPGI is imported.

Which brand is cheaper, Aisha or ISL?

List prices move together and day-to-day dealer prices sit within a narrow band. Any large gap between the two brands on the same day usually signals a difference in specification, coating mass or stock age — ask before you buy.

Who owns ISL and Aisha Steel?

ISL is part of International Industries Limited (the Amir S. Chinoy Group) with Sumitomo and JFE Steel of Japan as minority shareholders. Aisha Steel belongs to the Arif Habib Group. Both are listed on the Pakistan Stock Exchange.

Is local CRC/GP better than imported Chinese coil?

They serve different positions in the market. Local coil offers fast delivery, easy claims and consistent standards; imported China Prime coil can widen specification choice and price points but carries anti-dumping duties on CRC, GP and colour coated origins — and HRC, which is not produced locally at all, is import-only. Landed cost decides case by case.