Iron and steel prices fall from 12000 – 15000 PKR Due to international market prices fall down. In the local market, iron and steel have experienced a steady decline in price over the past few months because of the decrease in international market prices, which are down by about 10 percent year on year. According to stockists and traders, ordinary mild steel prices have dropped to 8,000 PKR per tonne, while construction mild steel has reduced to 9,000 PKR per tonne over the last few months as compared to 11,000 – 13,000 PKR per tonne in July 2016.
بین الاقوامی مارکیٹ کی قیمتوں میں کمی کی وجہ سے لوہے اور سٹیل کی قیمتیں 12000 سے 15000 روپے تک گر گئیں ۔
Iron and steel prices
The falling prices of iron and steel have caused a lot of concern among businesses that use these materials. The decrease in prices is due to the weak demand from China, which is the world’s largest consumer of these metals. This has led to overproduction and a decrease in demand, causing prices to fall. Many businesses are feeling the pinch as they have to cut costs to stay afloat. This is likely to lead to job losses and a further slowdown in the economy.
Today Steel Rate In Pakistan
Steel rates in Pakistan have decreased significantly in the past few weeks. This is due to the decrease in international market prices. The price of iron has fallen from 12000 to 15000 PKR per ton, while the price of steel has fallen from 12000 to 15000 PKR per ton. This decrease in prices will hurt the Pakistani economy, as it will reduce the demand for these products.
Definition of material iron
Iron is a metallic element that is found in abundance on Earth. It has been used by humans for centuries and is an essential component of steel. The price of iron fluctuates depending on the demand from buyers in the international market. Recently, there has been a decrease in the price of iron due to a decrease in demand from China, one of the largest consumers of iron. This has caused the price of iron to fall from 12000 – 15000 PKR.
Price trend of iron and steel in Pakistan
The trend of iron and steel prices in Pakistan has been fluctuating for the past few months. However, the recent fall in prices is a cause for concern for many businesses. The decrease in prices is due to the fall in international market prices. This has led to a decrease in demand for Pakistani products. Additionally, the falling price of oil has also contributed to the decrease in demand for Pakistani products. As a result, many businesses are struggling to keep up with the demand.
Areas where price falls are noticed
In the international market, the price of iron and steel has fallen sharply in recent months. This has led to a corresponding decrease in the price of iron and steel in Pakistan. The biggest impact has been felt in the construction industry, where the cost of raw materials has fallen significantly. This has put pressure on Pakistani Steel Mills to lower their prices to stay competitive. As a result, the price of iron and steel in Pakistan has fallen by up to 30%.
Important Note:
Pakistan’s economy is currently in a state of flux. Inflation is on the rise, the Pakistani rupee is depreciating against the US dollar, and interest rates are climbing. As a result, businesses are feeling the pinch. One sector that has been particularly hard hit is the iron and steel industry.
Why do the prices change?
When it comes to iron and steel, there are a few reasons why the prices may have changed. For one, it could be due to the current state of the economy. If there’s a recession or slowdown in construction, then the demand for these materials would naturally go down. Additionally, if there’s an oversupply of these materials on the market, that could also lead to lower prices. And finally, if international markets are experiencing a price decline, that could trickle down to Pakistan’s iron and steel industry as well.
Steel Rate In Pakistan
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Published in The Blog MWPBNP, August 19th, 2022.
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