Karachi: Pakistan Association of Large Steel Producers (PALSP) General Secretary Syed Wajid I Bukhari announced that the steel bar prices have been reduced by PKR 5,000 per tonne, according to news story published on Saturday (January 22).
The general secretary disclosed that the new price of steel bar was PKR 188,000-189,000 per tonne in the northern region while in the southern region, it ranges between PKR 193,000-194,000 per tonne. He went on to say that the prices have been decreased due to the market adjustment process.
Reportedly, the prices of steel bars go down every year around January and February because of the reduced construction activities due to weather conditions. General Secretary Wajid stated that the industry came out of a crisis and performed well despite the upsurge of iron and steel scrap prices by USD 445-560 per tonne.
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