ISLAMABAD: Steel bar prices in Pakistan have reached a new high, with the cost per ton reaching PKR 243,500.
This surpasses the previous record set in June 2022, when the price per ton was PKR 236,000.
The manufacturers cite rising costs of raw materials, increased production costs, and disruptions in the supply chain as the main reasons for the price hike.
The price of galvanized sheets or cold rolled sheets used in home appliances and automobiles has also risen to PKR 280,000 per ton.
Additionally, Faizan Steel and Agha Steel Industries have also raised their prices for specific steel bar sizes.
It is important to note that the imports of iron and steel scrap have also decreased significantly, with a 36% and 38% drop in quantity and value respectively during the July-November period of the current fiscal year.
The average per ton price of imported scrap was USD 563 in July-December 2022-23, compared to USD 579 during the same period the previous year.
Imported govt cannot run the economy at all. They total failure. Their intentions are LOOOTO AND PHUTTO.