Steel Mill RS 2,000 Per Tonne Increase in Price of Steel
Karachi: According to our sources, Pakistan Association of Large Steel Producers Secretary-General Syed Wajid I. Bukhari has announced an increase of Rs. 2,000 per tonne for steel goods. On Wednesday, December 8, 2021, he announced that the price rise would become effective on December 7.
Read: How to Buy a Home Amid High Inflation
The cause for rising steel prices is the strengthening currency. As a result, steel scrap prices will climb, but so will import and clearing fees. These fees will have a significant influence on the housing and construction industries.
All steel producers have implemented the modifications, and they have also acknowledged the rise in electricity and gas costs.
- Amreli Steels Ltd. will charge $197,500 per tonne for 9.5/10mm and 12mm material.
- The price of 9.5/10mm and 12mm per tonne at Naveena Steel Mills is $196,500.
- Faizan Steel will price $196,500 per tonne for 9.5/10mm and 12mm material.
- FBR boosts the price of steel to improve GST collection
Over the past two years, the price of steel has increased steadily. In November 2020, the cost of a ton of steel was approximately Rs. 110-113.
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