Islamabad: The domestic steel product prices have once again experienced an accruement of PKR 8,000 in the month of August due to escalating raw material costs and rupee devaluation, a news source reported on August 29.
As per the news source, the prices of steel rebar have been subject to an increase of up to PKR 8,000 per ton, effective as of August 29, 2023. This increase places the current retail prices within the range of PKR 282,000 to PKR 288,000 per ton.
Within Pakistan’s steel industry, property and infrastructure stand as significant drivers of demand. However, it is notable that the growth momentum within the sector has been subdued due to certain moderation in infrastructure. It was mentioned that the manufacturers have no alternative but to transfer the increased cost to the end users because of the unfavourable market conditions.
As a graduate in English Literature, Zohaib believes that words are not just a mere figment of imagination. It takes wisdom to be good at them. Following this reason, he is pursuing his career as Public Relations and Content Specialist at Zameen.com.
