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Friday, November 15, 2024

Home Business Big drop in Steel Prices in Pakistan amid cut in raw material cost

Big drop in Steel Prices in Pakistan amid cut in raw material cost

by Web Desk (Lahore)
August 23, 2024
in Business, Pakistan

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KARACHI – Steel prices saw considerable drop by of Rs45,000 per ton amid plunge in global raw material costs.

Steel and iron are considered essential to construction and industry, as they affect economic environment.

Steel Price in Pakistan

As per latest rates, Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) prices moved down by Rs.45,000 per ton, domestic steel manufacturers said.

As of late August, 1 mm CRC will cost Rs. 211,500 per ton, and HDGC will be priced at Rs. 220,800 per ton.

Products	Price
Cold Rolled Coil (CRC)	Rs. 211,500 per ton
Hot Dipped Galvanized Coil (HDGC)	Rs. 220,800 per ton

This reduction comes as a result of weaker demand during what is usually a strong construction season from July to September, with more price cuts likely as Pakistan moves through the end of summer.