Prices Of Steel Bars Record a New High
KARACHI: According to the manufacturers the Prices of steel bars, the lack of raw materials, and the current state of the economy are to blame for the price increase of Rs.12,000 per ton that brought steel bar prices to an all-time high of Rs.288,500 per ton. (Reported by news source)
Dealers in the Lahore region have been informed by Amreli Steel Limited (ASL) of a new pricing of Rs 288,000 per ton for 9.5-10mm size and Rs 286,000 for 12mm and above size.
As of February 2, the rates for steel bars in the 9.5–10 mm and 12 mm and above sizes in the Islamabad region are Rs 288,500 and Rs 286,500, respectively. Due to a lack of raw materials in the nation, the company informed its clients that it would not be accepting any new orders.
Altaf Tai, the chairman of the Association of Builders and Developers, claimed that due to the continually rising costs of construction materials, particularly steel bars, builders and developers had to halt projects costing billions of rupees and thousands of people had lost their employment.
