Domestic Steel Prices Increase Fifth Time in One Month
ISLAMABAD, January 11, 2023- Domestic steel producers have increased steel prices for the fifth time in one month.
According to the news, domestic steel companies have boosted their pricing five times in the past thirty days. The new prices have been disclosed by steel makers. According to the report, the fluctuations in steel prices are attributable to the unpredictability of the worldwide market and the rupee-dollar parity. Due to dwindling supplies and growing expenses, steel businesses have been forced to raise their prices. The most recent PKR 5,000 per metric ton hike occurred on December 28. Following this most recent increase, the price per ton of various grades of steel ranges between PKR 225,000 and PKR 225,000.
Importantly, domestic demand and import restrictions have led to a steady increase in steel prices. Recent rains in the country have also disrupted steel production, which has slowed the construction industry.
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