Steel Prices Experience a Decline as the Rupee Gains Strength Against the US Dollar

[LRE-Azan]

Steel Prices Experience a Decline as the Rupee Gains Strength Against the US Dollar

Islamabad: Recent reports indicate a significant decrease in steel prices compared to cement, offering a respite to the construction sector. The information reveals a notable drop in the cost of steel per ton, decreasing from less than PKR 305,000 to PKR 245,000.

The recent appreciation of the national currency is attributed to the decline in steel costs. Market observers attribute the depreciation in steel pricing mainly to the strengthening of the rupee. According to dealers, the branded series is priced between PKR 263,000 and PKR 265,000, while the current per-ton pricing of local steel stands at PKR 245,000.

Conversely, there has been a slight nationwide increase in the pricing of cement bags each week. According to statistics from the department, the average cost of a cement bag in the northern areas is now PKR 1,276, representing a 0.35% increase compared to the previous week's PKR 1,271.

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