Steel rebar prices are spiking due to uncertain supply

The recent economic crisis has caused a spike in the prices of many products. Even with the decrease in the recent oil prices, the construction cost went up. The same has happened with the steel rebars due to their uncertain supply.

The costs of almost every material of construction have gone up by a notch. Domestic steel prices have seen a spike.

According to a source, the steel prices went up by PKR 4000 per ton. Just recently the prices were decreased by about PKR 10000 per ton implemented just a week ago. It is effective from October 31. Now the new spike is raising concerns among the community.

They range anywhere from PKR 259,000 to PKR 264,000 per ton. It is a notable increase from last time. The prices have spoked almost ten thousand from the last record on October 20.

The sudden spike in steel prices has raised concerns regarding steel shortages in the coming weeks.

The steel supply situation remains uncertain with fluctuating trends. These price fluctuations can be attributed to various factors including the disruptions in the world economic corridor.

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