Rise in construction activities, steel bar prices recorded above Rs150,000 per tonne


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KARACHI: Increase in the demand for steel due to the rising construction activities in the country has pushed the steel bar prices above Rs150,000 per tonne.

According to the details, the prices of steel in November 2020 were recorded between Rs110,000-Rs113,000 and have been gradually rising owing to the increasing construction activities.

An increase in the volume of imports of steel and iron scrap has also been observed in the eleventh month of Fiscal Year 2021.

As per the Pakistan Bureau of Statistics (PBS), the import volume of iron and steel scrap imports in 11MFY21 have been recorded at Rs4.429m tonnes at $1.7bn against the 3.6m tonnes at Rs1.4bn in the same period of last year.

 

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