Steel prices increase again within a month

KARACHI: The purchasing cost of the locally-produced cold-rolled coil (CRC) of various flat steel grades increased by Rs3,500/ton, marking an increase for the second time within a month by the producers.

With a 12.3 per cent hike, currently, the cost of 1.2mm steel bars stands at Rs178,500/ton.

The surge in prices has been credited to the 11 per cent (in rupees) increase in the price of hot-rolled coil (HRC) – the raw material used in the production, globally.

The surge in the purchasing cost is expected to affect construction activities.

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