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Steel Price Hike- There has been a notable increase in steel prices in Pakistan, impacting the construction and infrastructure sectors. Domestic steel producers have announced a substantial surge, elevating the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) by Rs. 5,000 per ton, effective from December 26, 2023.
Cold Rolled Coil (CRC) Pricing-The cost for 1 mm Cold Rolled Coil (CRC) now stands at Rs. 256,450 per ton, while
Hot Dipped Galvanized Coil (HDGC) Costs– Hot Dipped Galvanized Coil (HDGC) has attained a price of Rs. 265,800 per ton.
The recent increase in prices aligns with the continuous trend of rising steel prices, as steel rebar has experienced a collective surge of Rs. 12,000 per ton since October 31, now reaching a range of Rs. 266,000-272,000 today.
Construction Industry Challenges-According to JS Research, the surge in steel prices may be attributed to various factors, including potential risks associated with unforeseen disruptions in raw material procurement. Industry experts express concerns that the continuous increase in steel prices might pose challenges for the construction and infrastructure sectors in the country.
It’s crucial to note that the property and infrastructure segments play a significant role in driving demand in Pakistan’s steel sector. However, with the slowdown in infrastructure stimulus and minimal growth in the property market, the recent upward revision in steel rates is expected to further impede developments in the sector.
Read More: Dusk News Business