The cost of construction iron has witnessed a significant surge in the country, with local steel producers announcing a per-ton price increase of 7,000 rupees, reaching a new high at 2,70,000 rupees.
This comes after a previous hike on October 31, when the price of Iron per ton saw an increase of 5,000 rupees. Economists attribute the upward trend in iron prices to a potential rise in raw material costs. Any disruptions in the raw material supply chain pose additional risks, intensifying the impact on the already escalating steel prices.
In contrast, the average retail price of cement per bag in the northern regions of the country has recorded at Rs 1,246, marking a slight decrease of 0.84% compared to the previous week. The continuous week reports an average retail price of cement per sack at Rs 1,256.
