Islamabad, Aug 23: The abrupt decline in the price of raw materials on the global market has resulted in a Rs. 45,000 per ton decrease in the domestic costs of steel products.
According to JS Research, domestic steel producers announced on Friday a significant drop in the prices of Hot Dipped Galvanized Coil (HDGC) and Cold Rolled Coil (CRC) of Rs. 45,000 per ton. The revised prices for 1 mm CRC and HDGC are Rs. 211,500 and Rs. 220,800 per ton, respectively, as of August 23, 2024.
The reduction was also sparked by disappointing demand in July and September, which is often a healthy time for construction. As Pakistan moves through the last few months of summer, additional cuts are anticipated.
