As the threat of skyrocketing raw material prices and rupee devaluation harms the nation’s construction sector, the domestic prices of steel products have once again been revised upward during the month of August.
Prices for steel rebar have increased by as much as Rs. 8,000 per ton (as of August 29, 2023). According to JS Research, retail prices are currently in the range of Rs. 282,000–288,000 per ton.
Demand in Pakistan’s stalled steel industry is heavily reliant on property and infrastructure, but these sectors are currently experiencing little market expansion.
The current market environment is not good because manufacturers must pass the cost on to consumers as a result of rapidly rising input costs. The price increase for rebar that took effect today will undoubtedly be felt in a number of industries over the coming weeks.
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