{"id":84557,"date":"2022-03-14T12:26:19","date_gmt":"2022-03-14T07:26:19","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=84557"},"modified":"2022-03-14T12:26:23","modified_gmt":"2022-03-14T07:26:23","slug":"steel-bars-get-second-price-hike-within-a-week","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/steel-bars-get-second-price-hike-within-a-week.html","title":{"rendered":"Steel bars get second price hike within a week"},"content":{"rendered":"\n<p>Karachi: The steel producers have hiked the prices of steel bars for the second time in a week, bringing the price to PKR 208,000 per tonne, news sources reported on March 14. The manufacturers have associated the price increase with severe supply chain restrictions, energy expenses, and input and utility costs.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/steel-prices-supply-chain-raw-material.html\" data-type=\"post\" data-id=\"84414\">\u2018Steel prices surge due to supply-chain disruption, raw material shortage\u2019<\/a><\/p>\n\n\n\n<p>According to reports, steel manufacturers increased the price by PKR 8,000 in a week. The Sensitive Price Index (SPI) reported a 5% increase in <a href=\"https:\/\/www.zameen.com\/news\/punjab-approves-cement-plant-to-enhance-production.html\" data-type=\"post\" data-id=\"84541\">cement prices over the last week<\/a>, bringing the per bag price to PKR 787 from PKR 749. The new price is 29.30% higher when compared to the same month last year.&nbsp;<\/p>\n\n\n\n<p>According to the market study, the report has warned of a significant increase in construction-related costs, which would result in a slowdown of the industry, on which 37 other sectors rely. Speaking on the development, the former head of the Association of Builders and Developers (ABAD) Hassan Bakhshi stated that the price increase would impact modest homeowners, whose costs have jumped by up to 40%. Steel costs, according to Bakshi, have climbed by 65% since 2020, causing a severe slowdown in the sector.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/housing-projects-worth-pkr-1-4-trillion-to-trigger-construction-industry-pm.html\" data-type=\"post\" data-id=\"83835\">Housing projects worth PKR 1.4 trillion to trigger construction industry: PM<\/a><\/p>\n\n\n\n<p>He asked the government to remove the regulatory duty on steel bar imports to reduce construction costs. Steel bar producers have recently raised their pricing, citing rising fuel prices and freight charges for scrap and raw materials. In addition, the government has stated that rising international oil costs will drive up prices even more.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The steel producers have hiked the prices of steel bars for the second time in a week, bringing the price to PKR 208,000 per tonne, news sources reported on March 14. The manufacturers have associated the price increase with severe supply chain restrictions, energy expenses, and input and utility costs.&nbsp;&nbsp; Read: \u2018Steel prices surge due to supply-chain disruption, raw material shortage\u2019 According to reports, steel manufacturers increased the price by PKR 8,000 in a week. The Sensitive Price Index (SPI) reported a 5% increase in cement prices over the last week, bringing the per bag price to PKR 787 from PKR 749. The new price is 29.30% higher when compared to the same month last year.&nbsp; According to the market study, the report has warned of a significant increase in construction-related costs, which would result in a slowdown of the industry, on which 37 other sectors rely. Speaking on the development, the former head of the Association of Builders and Developers (ABAD) Hassan Bakhshi stated that the price increase would impact modest homeowners, whose costs have jumped by up to 40%. Steel costs, according to Bakshi, have climbed by 65% since 2020, causing a severe slowdown in the sector.&nbsp;&nbsp;&hellip;<\/p>\n","protected":false},"author":84,"featured_media":63768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[47885,5972,45974,51458],"persona":[],"class_list":{"0":"post-84557","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-abad-chairman-asks-govt-to-stabilise-cement-and-steel-bars-prices","9":"tag-cement","10":"tag-steel-price-in-pakistan","11":"tag-steel-prices","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Steel bars get second price hike within a week - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The steel producers have hiked the prices of steel bars for the second time in a week, bringing the price to PKR 208,000 per tonne, news sources\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/steel-bars-get-second-price-hike-within-a-week.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel bars get second price hike within a week - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The steel producers have hiked the prices of steel bars for the second time in a week, bringing the price to PKR 208,000 per tonne, news sources\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/steel-bars-get-second-price-hike-within-a-week.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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