| Islamabad: The prices of steel products in the domestic market have experienced 3rd surge in one month period, with an increase of PKR 3,000 per ton, according to a news published on November 28. This adjustment is in response to the overall escalation in raw material costs and a substantial rise in gas prices.
Read: Steel rebar prices experience hike due to uncertain supply scenario
According to the details, JS Global reports that retail prices have now been adjusted to fall within the range of PKR 268,000-274,000 per ton, effective from November 28, 2023. The news source shared that the steel rebar prices have witnessed a cumulative increase, which have risen by PKR 12,000 per ton, transitioning from PKR 259,000-264,000 on October 31 to the current range of PKR 266,000-272,000.
Read: Steel prices’ dip continues with PKR strengthening against USD
It is important to acknowledge the potential upward risks associated with this recent uptick in steel prices. Unforeseen disruptions in the procurement of raw materials and further depreciation in the rupee to USD exchange rate could contribute to additional challenges. |
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