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Steel prices increase Rs3,500/ton second time in month
Business March 10, 2021
KARACHI: Prices of locally-produced cold rolled coil (CRC) of various flat steel grades were further increased by Rs3,500/ton, second time in a month because of rise in rates in the international market, dealers said.
Price of the benchmark local prime grade of 1.2mm stands at Rs178,500k/ton. So far this year, prices of locally-produced CRC increased by around Rs19,500/ton, or 12.3 percent.
“We believe local players have managed to pass on the cost pressures since price of its raw material – hot rolled coil (HRC) – has increased by 11 percent in rupee terms and 13 percent in dollar terms,” a dealer said.