The construction activities increased in our country, increase the demand of steel due to which now the costs of steel bar is Rs. 150,000 per tonne.
As per details, the steel costs in November 2020 were recorded between Rs110,000-Rs113,000 and steadily rising due to the increasing construction activities.
An increase in the volume of steel and iron scrap imports has also been observed in the eleventh month of Fiscal Year 2021.
According to the Pakistan Bureau of Statistics (PBS), the import volume of iron and steel scrap imports in 11MFY21 was recorded at Rs4.429m tons at $1.7bn against the 3.6m tons Rs1.4bn in a similar time of last year.