According to media reports, a price surge of PKR 5,000 per tonne of steel bars is announced by Amreli Steel (Pvt.) Limited (ASL) due to which the overall construction cost has immensely increased. Moreover, the price hike of steel bars was further followed by a price hike of cement in northern region of Pakistan.
As stated in the available detailed reports provided by the leading steel manufacturing company of Pakistan, the two steel qualities are available at new booking rates of PKR 167,000 and PKR 165,000 in effect from 6th August’2021. It was also informed that since November 2020, steel manufacturers raised the prices of steel bars by PKR 57,000 per tonne.