Steel bar manufacturers have lowered costs by Rs5,000 per tonne due to weather-related project delays across the country. Syed Wajid I. Bukhari (PALSP), General Secretary of the Pakistan Association of Large Steel Producers, stated the new pricing in the northern region is now Rs188,000-189,000 per tonne, while rates in the southern region are between Rs193,000-194,000 per tonne.
As part of the market process of adjustment, he said, prices have been decreased across the board. This type of circumstance occurs every year in the months of January and February when demand for steel bars falls due to weather which results in decreased construction activity, he explained.
