Steel Price in Pakistan Continues to Decline

Steel Price in Pakistan Continues to Decline

In August 2022 we had informed you of the declining steel price per ton in Pakistan. At the time, a ton of steel cost you less than Rs.250,000. Now the prices have further declined. 

Latest Steel Price 

Today, the per ton price of steel is less than Rs.230,000. Depending upon where you buy the steel from, it would cost you anywhere between Rs.221,000 and Rs.225,000 per ton.

These prices have continued to drop due to decline in the prices of raw materials in the international market, especially the cost of scrap coming down. Furthermore, as the local economy reels from one of the worst recessions in the history of Pakistan, the demand for steel has come down too. In Lahore alone, 50 percent of furnace and steel re rolling mills have shut down. 

Furthermore, the Rupee has appreciated against the US Dollar, making buying raw materials cheaper in the international market. 

Would This Revive The Construction Industry?

Steel is only one of the many materials used in the construction sector. Along with it, cement, sand, gravel, bricks, and other materials are used to construct a building. With their prices not coming down, the declining rate of steel itself won’t make much of a difference. Also, don’t forget to factor in the labor cost. 

If you are looking for construction and heavy machinery items in Pakistan then look no further than OLX Pakistan. 

You may also like to read:

Declining Steel Prices: Good Times for the Construction Sector!

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