Islamabad: Steel companies across the country on Monday (June 13) raised steel bar prices by PKR 7,000 per ton in the north and south regions of Pakistan in response to a rise in international raw material costs, according to news sources.
The price of a ton of steel bar is currently PKR 226,000 in the north and PKR 229,000 in the south. According to reports, steel manufacturers announced the increased prices on Monday, with the increase taking effect immediately. According to reports, the prices have risen due to an increase in raw material and scrap costs, which have driven up local rates.
Market analysts believe that prices have risen owing to supply chain issues as well as the dollar-rupee parity. It is vital to note that the rise in steel bar costs is projected to have a negative impact on the construction sector.
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