Once again, the price of construction steel bars has surged, leaving dealers in awe as the value climbs by PKR 6000 per tonne in the local market. Media reports on Wednesday suggest that the steel price is set to soar to PKR 266,000 per tonne ($925) due to the recent increase. Amreli Steel Limited and Agha Steel Industries are also following suit by raising their steel prices.Amreli Steel Limited now sets the price of 12 to 9.5 mm steel at PKR 267,500, while the price of above 16 mm steel hits PKR 265,500.Meanwhile, Agha Steel Industries Limited boosts the price of 10 to 12 mm steel to PKR 266,000. The upward trend seems relentless, and dealers are bracing for further surges.This unexpected hike in steel prices raises concerns in the construction industry and the broader market. As the backbone of infrastructural development, construction steel bars play a critical role in shaping the country's progress. The sudden surge puts additional pressure on builders and developers, impacting project costs and timelines.Experts speculate that various factors contribute to this price surge, including global market dynamics, supply chain disruptions, and rising raw material costs. As construction activities accelerate, the demand for steel has spiked, pushing prices to unforeseen heights.
Once again, the price of construction steel bars has surged, leaving dealers in awe as the value climbs by PKR 6000 per tonne in the local market. Media reports on Wednesday suggest that the steel price is set to soar to PKR 266,000 per tonne ($925) due to the recent increase. Amreli Steel Limited and Agha Steel Industries are also following suit by raising their steel prices.Amreli Steel Limited now sets the price of 12 to 9.5 mm steel at PKR 267,500, while the price of above 16 mm steel hits PKR 265,500.Meanwhile, Agha Steel Industries Limited boosts the price of 10 to 12 mm steel to PKR 266,000. The upward trend seems relentless, and dealers are bracing for further surges.This unexpected hike in steel prices raises concerns in the construction industry and the broader market. As the backbone of infrastructural development, construction steel bars play a critical role in shaping the country's progress. The sudden surge puts additional pressure on builders and developers, impacting project costs and timelines.Experts speculate that various factors contribute to this price surge, including global market dynamics, supply chain disruptions, and rising raw material costs. As construction activities accelerate, the demand for steel has spiked, pushing prices to unforeseen heights.
