Steel bar prices in Pakistan witness notable decline

WEB DESK: In a positive development for the construction industry and prospective homeowners, the cost of steel bars in Pakistan has witnessed a notable decrease.

This reduction is anticipated to have a positive impact on overall construction expenses.

At the onset of 2023, the price of steel bars per tonne had peaked at Rs350,000.

However, there has been a significant decline, with current prices ranging from Rs245,000 to Rs275,000 per tonne.

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On December 3, the highest recorded price per tonne for local steel bars in Pakistan was Rs247,000.

Presently, the price stands at Rs245,000 per tonne for local steel bars, while branded steel bars are priced between Rs263,000 and Rs265,000 per tonne.

This shift in pricing reflects a noteworthy adjustment in the steel market, potentially impacting the construction landscape positively.