PKR’s strength against USD causes steel prices to drop significantly 

The construction industry has found relief in the recent drop in steel prices compared to cement, according to a news report on December 15th.

Read: ADB To Fund Development Projects In KP And Sindh With USD 659 Million

Specifically, the price per ton of steel has seen a significant decrease, falling from just under PKR 305,000 to PKR 245,000. This decline is attributed to the recent strengthening of the national currency, a factor that market analysts believe has played a key role in pushing down steel prices.

Local steel currently priced at PKR 245,000 per ton, while branded varieties range between PKR 263,000 and PKR 265,000, according to market data.

Also Read: RWP, BHP To Get ADB’s USD 180m For Water, Waste Management Schemes

Conversely, there has been a slight increase in the weekly prices of cement bags nationwide. Data from the statistics department indicates that the average price per cement bag in northern regions has risen to PKR 1,276, marking a 0.35% increase from the previous week’s average of PKR 1,271.

For more information keep visiting Royal Business Solutions.

Leave a Reply