The cost of steel in Pakistan has gone through sudden increase by PKR 4,000 per ton, which has raised concerns about the availability of steel. This price hike is likely to make steel production more expensive and could affect industries that use a lot of steel.
Previously, a week ago, there was a price drop of PKR 10,000 per ton, and now the prices have increased again. This prices hike has been officially implemented on October 31st, and steel rebar is now priced between PKR 259,000 and PKR 264,000 per ton. This sudden increase in steel prices is making people concerned that there might be shortages of steel in the coming weeks. The price is highly fluctuating. The sudden hike has led to the uncertainty of steel and may be there will be potential shortages of steel in upcoming week.