Karachi: The prices of steel rebars have been increased by around PKR 2,000 per ton due to a surge in the cost of raw materials in the international market, news sources reported on December 15.
As per the market sources, the price hike has been made following a surge in raw material prices in the international market and the dollar-related uncertainty. The domestic forms have notified the new prices with immediate effect.
Effective from December 14, the new prices now range between PKR 203,000-205,000 per ton depending on various bar quality and dimensions. Along with this, the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) have also been increased by PKR 2,000 per ton, the new price for CRC being PKR 211,550 per ton and PKR 218,900 per ton for HDGC.
It is important to note that the recent changes in dollar-to-USD parity have resulted in a massive increase in construction-related materials. Leading construction firms have warned of slow down in construction-related facilities as the overall cost of units is likely to increase further. The construction industry is being heavily impacted by the price hikes as it has become difficult to estimate the costs of housing units due to the delays caused by the floods.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
