Steel Prices Massive Drop By 12000 PKR Per Ton

Due to a massive drop in the cost of raw materials in the international market, steel prices in Pakistan have fallen below Rs.250, 000 per ton.

According to JS Research, domestic steel producers­- Aisha Steel Mills Limited (ASL) and International Steels Limited (ISL) announced on Thursday that the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) would decrease by 12,000 PKR per ton. Effective from 17 Aug 2022, 1 mm of CRC and 1 mm of HDGC will cost 230,550 PKR and 237,900 PKR per ton respectively.

Steel prices increased dramatically in the past several months, causing problems for the construction industry while setting prices for housing units.

The massive drop in steel prices is probably due to the decrease in the cost of scrap and its domestic demand. More research claims that the increase in the value of the Pakistani rupee over the past 10 days facilitated a sharp drop in domestic steel prices.