September 07, 2008

Rebar prices at all time high in Pakistan

Due to rising raw material prices of steel in the international market, Pakistan’s mild steel bar prices rose to new heights of PKR 60,000 per tonne after an increase of PKR 5,000 per tonne in the local market.

The unprecedented increase in the prices of billets in the local market actually carved out the way for the re rolling mills to increase the prices of mild steel bars.

The rise in the local market has come following Pakistan Steel Mill’s decision last week to raise prices of billets up to PKR 4,750 per tonne. The significant rise in the prices of steel products these days has irked consumers and has been one of the key sources of pushing up the already soaring construction cost in Pakistan.