ISLAMABAD – Construction became more expensive in Pakistan as steel prices witnessed another hike.
Most of the construction material saw a sharp increase amid economic crisis, as never-ending delays in arrival of shipments continue to hamper little gains, affecting people who are looking to build houses.
The price of Iron also known as steel rebar has been jacked up by Rs5,000 per ton in the wake of surge in production costs and supply chain disruptions caused by the Middle East crisis.
With the latest price hike, the retail prices for local and imported steel rebar now cost two lac fourty thousand to two lac sixty thousand rupees. (Rs240,000 – Rs260,000 per ton).
Local iron has increased from Rs 236,000 to Rs 240,000 per ton while branded iron has increased from Rs 255,000 to Rs 260,000 per ton.
Meanwhile, crude iron or Scrap price increased to Rs.160,000 per ton in iron and steel markets.
Any further disruption in the supply chain of raw materials will add further risks, exacerbating the effects of skyrocketing steel prices.
Meanwhile, the price of cement saw slight decrease, currently standing at Rs.1,246 per bag.
