Revenue Jawed Ghani News Today : Breaking News, Live Updates & Top Stories | Vimarsana

KARACHI: The latest increase in steel bar prices by Rs7,000 to Rs139,500-142,500 per tonne has pushed up the cost of construction. The hike in steel bar prices second since the last week of Dec 2020 when rates were raised by a similar amount comes despite a global drop in iron and steel scrap prices.
Attributing the domestic price hike to extreme shortage and increase in cost of raw materials in the world market, a number of steel bar manufacturers have quoted new enhanced rates to the builders.
Amreli Steels Limited quoted the booking rates of its deformed and Xtreme bars at Rs141,500-142,500 per tonne. Agha Steel Industries revised its prices to Rs141,500-142,500 per tonne for its 10mm and 12-32mm bars. Naveena Steel Mills increased the prices to Rs140,500 for its 10mm bars and Rs139,500 for 12-32mm deformed grade-60 bars. Faizan Steel quoted the rate of Rs140,500 for 12-32mm bars and Rs141,500 for 10mm bars. ....

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