Strengthened PKR Value Triggers Major Decline in Steel Rates

Karachi, In a recent financial development, steel rates in Pakistan have seen a significant drop, offering relief to the construction industry. This change, reported on December 15, contrasts sharply with the pricing trends in the cement sector.

According to Zameen.Com, the cost per ton for steel has markedly decreased. The new price stands at PKR 245,000, a substantial fall from its earlier rate of under PKR 305,000. This drop is largely attributed to the strengthening of the Pakistani Rupee against the US Dollar. Market analysts point out that the stronger rupee is a key factor in the reduced steel prices. Current market data shows that local steel is now priced at PKR 245,000 per ton, while branded varieties range between PKR 263,000 and PKR 265,000.

In contrast, cement prices have experienced a slight upward trend. The weekly average price for a bag of cement in the northern regions of Pakistan has increased to PKR 1,276, a 0.35% rise from the previous week’s average of PKR 1,271, as per the statistics department’s report.

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