Steel Prices Get a Massive Decrease in Pakistan
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Reduced Steel prices in Pakistan are the impact of the Global reduction of Steel Prices.
The domestic prices of steel products have dipped by Rs. 45,000 per ton due to a sudden drop in the cost of raw materials in the international market.
Domestic steel producers announced a big decrease in the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) by Rs. 45,000 per ton on Friday, according to JS Research. Effective from 23 August 2024, the new price for 1 mm CRC is Rs. 211,500 per ton, and Rs. 220,800 per ton for HDGC.
Disappointing demand in what is normally a good construction season during July and September also kicked off the decline, with more cuts expected as Pakistan plays through the closing summer months.
Reference Link:- https://propakistani.pk/2024/08/23/steel-prices-get-a-massive-decrease-in-pakistan/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
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