A decline in the price of raw materials on the global market has caused a drop in local steel product prices below the Rs. 220,000 per tons threshold.
According to JS Research, domestic steel maker Aisha Steels Limited (ASL) reported on Thursday a significant reduction in the costs of cold-rolled coil (CRC) and hot-dipped galvanised coil (HDGC) of Rs. 12,000 per tonne. The new costs are now Rs. 209,550 per tonne and Rs. 216,900 per tonne, respectively, with effect from 10 November 2022.
Since 2020, input costs for many sectors have increased as a result of growing prices for raw materials (such as coal, fuel/power, and steel scrap) and the costs associated with importing them from other countries. However, the price of importing raw materials drops when the currency is stable, lowering the overall cost of inputs.
Latest steel price in pakistan per kg is 209 as compared to last week price 216.9/kg.
In addition to the slowdown in domestic demand as the nation recovers from a variety of flood repercussions, political, geopolitical, and economic constraints, today’s drop in steel prices is likely the result of falling scrap prices as well.