<\/span><\/h2>\n\n\n\nThe iron and steel rate in Pakistan is not only influenced by the domestic factors, but also by the international factors, such as the market prices, the exchange rates, the taxes and tariffs, and the quality and standards of other countries in the region and the world. The following chart shows the comparison of the rate of iron in Pakistan with other countries in the region and the world, as of September 2021, according to the Trading Economics website:<\/p>\n\n\n\n
The chart shows that the steel in Pakistan is lower than the rate of iron in India, China, Turkey, and the US, but higher than the rate of iron in Bangladesh, Nepal, and Sri Lanka. Some of the main reasons for the differences and similarities are:<\/p>\n\n\n\n
\n- China: The rate of iron in China is higher than the steel in Pakistan, due to the higher demand and supply of iron and steel in China, the higher market prices of iron ore and scrap metal in China, and the higher environmental and social costs of iron and steel production in China.<\/li>\n\n\n\n
- Turkey: The rate of iron in Turkey is higher than the steel in Pakistan, due to the higher dependence of Turkey on the import of iron ore and scrap metal, the higher exchange rate of the Turkish lira against the US dollar and other major currencies, and the higher quality and standards of iron and steel products in Turkey.<\/li>\n\n\n\n
- US: The rate of iron in the US is higher than theiron in Pakistan, due to the higher labor and energy costs of iron and steel production in the US, the higher taxes and tariffs imposed by the US government on the import and export of iron and steel products, and the higher quality and standards of iron and steel products in the US.<\/li>\n\n\n\n
- Bangladesh: The rate of iron in Bangladesh is lower than the iron in Pakistan, due to the lower production and consumption of iron and steel in Bangladesh, the lower taxes and tariffs imposed by the Bangladeshi government on the import and export of iron and steel products, and the lower quality and standards of iron and steel products in Bangladesh.<\/li>\n\n\n\n
- Nepal: The rate of iron in Nepal is lower than the iron in Pakistan, due to the lower demand and supply of iron and steel in Nepal, the lower market prices of iron ore and scrap metal in Nepal, and the lower quality and standards of iron and steel products in Nepal.<\/li>\n\n\n\n
- Sri Lanka: The rate of iron in Sri Lanka is lower than the iron in Pakistan, due to the lower production and consumption of iron and steel in Sri Lanka, the lower taxes and tariffs imposed by the Sri Lankan government on the import and export of iron and steel products, and the lower quality and standards of iron and steel products in Sri Lanka.<\/li>\n<\/ul>\n\n\n\n