Islamabad: In a significant development, domestic steel prices have undergone an upward revision, rising by PKR 4,000 per ton, claimed a news source on October 31.
This price surge comes shortly after a reduction of PKR 10,000 per ton was implemented just over a week ago. According to the provided details, this price surge comes shortly after a reduction of PKR 10,000 per ton was implemented just over a week ago, and is effective from October 31. JS Research shares that steel rebar prices now range from PKR 259,000 to PKR 264,000 per ton, marking a notable increase from the previous range of PKR 250,000 to PKR 258,000 per ton recorded on October 20.
The sudden spike in steel prices raises concerns about potential shortages in the coming weeks. Currently, the steel supply situation remains uncertain, with fluctuating trends. The escalation in prices is attributed to various factors, including the possibility of unforeseen disruptions in the procurement of raw materials and short-term fluctuations in the rupee/dollar exchange rate.
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.
