ISLAMABAD: The local prices of steel products have dipped by Rs. 45,000 per ton in Pakistan due to a sudden drop in the cost of raw materials in the international market, here on Friday.
Steel prices in Pakistan
As per the details, domestic steel producers have announced a major reduction in the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) by Rs. 45,000 per ton on Friday, according to JS Research. Effective August 23, 2024, the new price of 1 mm CRC is Rs. 211,500 per ton, and Rs. 220,800 per ton for HDGC.
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A generally good construction season during July and September also led to disappointing demand, with further cuts expected in Pakistan during the final summer months.
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