Steel Prices increase in Pakistan; Check new rates here

Construction costs in Pakistan have risen due to another increase in steel prices. The economic crisis, coupled with ongoing delays in shipment arrivals, has led to significant hikes in the prices of construction materials, impacting individuals looking to build homes.

The price of iron, also known as steel rebar, has surged by Rs5,000 per ton due to rising production costs and disruptions in the supply chain caused by the Middle East crisis. Following this latest increase, local and imported steel rebar now costs between Rs240,000 and Rs260,000 per ton.

Local iron prices have risen from Rs236,000 to Rs240,000 per ton, while branded iron prices increased from Rs255,000 to Rs260,000 per ton. Additionally, the price of crude iron or scrap has reached Rs160,000 per ton in the iron and steel markets.

Any further disruptions in the supply chain of raw materials pose additional risks, worsening the impact of the soaring steel prices. On the other hand, there has been a slight decrease in the price of cement, currently standing at Rs1,246 per bag.

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