{"id":88125,"date":"2022-08-22T12:29:53","date_gmt":"2022-08-22T07:29:53","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88125"},"modified":"2022-08-22T12:43:56","modified_gmt":"2022-08-22T07:43:56","slug":"massive-drop-prices-steel-products-pakistan","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/massive-drop-prices-steel-products-pakistan.html","title":{"rendered":"Massive drop registered in prices of steel products in Pakistan"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The domestic prices of steel products have witnessed a massive drop due to the decrease in the cost of raw materials in the international market, according to news published in the leading newspaper on August 17.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/steel-prices-supply-chain-raw-material.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u2018Steel prices surge due to supply-chain disruption, raw material shortage\u2019<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As per the details, the two domestic steel producers shared that the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanised Coil (HDGC) have decreased by PKR 12,000 per ton, which lead to prices being lower than PKR 250,000 per ton. The new prices for 1 mm CRC and HDGC are reported to be PKR 230,550 and PKR 237,900 per ton, respectively. Moreover, the drop in prices was due to the decreased cost of scrap, low domestic demand, and rupee appreciation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/surging-steel-prices-abad.html\" target=\"_blank\" rel=\"noreferrer noopener\">Surging steel prices: ABAD urges for tax relief<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is pertinent to note that steel prices initially rose in December 2020, mainly because of the<a href=\"https:\/\/www.zameen.com\/news\/steel-prices-hike-ntl-scrap-material.html\" target=\"_blank\" rel=\"noreferrer noopener\"> increase in prices <\/a>in the international market. The construction industry had a hard time pricing the housing units because of the increasing prices of steel products, which significantly raised the project completion costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The domestic prices of steel products have witnessed a massive drop due to the decrease in the cost of raw materials in the international market, according to news published in the leading newspaper on August 17. Read: \u2018Steel prices surge due to supply-chain disruption, raw material shortage\u2019 As per the details, the two domestic steel producers shared that the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanised Coil (HDGC) have decreased by PKR 12,000 per ton, which lead to prices being lower than PKR 250,000 per ton. The new prices for 1 mm CRC and HDGC are reported to be PKR 230,550 and PKR 237,900 per ton, respectively. Moreover, the drop in prices was due to the decreased cost of scrap, low domestic demand, and rupee appreciation. Read: Surging steel prices: ABAD urges for tax relief It is pertinent to note that steel prices initially rose in December 2020, mainly because of the increase in prices in the international market. The construction industry had a hard time pricing the housing units because of the increasing prices of steel products, which significantly raised the project completion costs.<\/p>\n","protected":false},"author":83,"featured_media":71142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[53667,53668],"persona":[],"class_list":["post-88125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-construction","tag-massive-drop-registered-in-prices-of-steel-products-in-pakistan","tag-steel-prices-slashed","cat-15013-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Massive drop in prices of steel products in Pakistan- Zameen News<\/title>\n<meta name=\"description\" content=\"The domestic prices of steel products have witnessed a massive drop due to the decrease in the cost of raw materials in the....\" \/>\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\/massive-drop-prices-steel-products-pakistan.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massive drop in prices of steel products in Pakistan- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The domestic prices of steel products have witnessed a massive drop due to the decrease in the cost of raw materials in the....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/massive-drop-prices-steel-products-pakistan.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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