{"id":89255,"date":"2022-10-11T12:08:52","date_gmt":"2022-10-11T07:08:52","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=89255"},"modified":"2022-10-11T12:08:56","modified_gmt":"2022-10-11T07:08:56","slug":"massive-drop-in-prices-of-local-steel-products","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/massive-drop-in-prices-of-local-steel-products.html","title":{"rendered":"Massive drop in prices of local steel products"},"content":{"rendered":"\n<p>Islamabad: The prices of domestic steel products have contracted, dipping below PKR 230,000 per ton because of the reduction in the cost of raw materials in the international market, according to news published on October 10.<\/p>\n\n\n\n<p><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>As per the details, the domestic steel producers \u2014 Amreli Steels Limited (ASTL) and Ittehad Steel \u2014 have announced a huge reduction of PKR 8,000 per ton in the prices of local steel rebars. The new sources disclosed that the new prices of steel rebars range between PKR 221,000 to 225,000 per ton, effective from October 10.<\/p>\n\n\n\n<p>Moreover, the decrease in steel prices is mainly because of a drop in the cost of scrap along with the retardation in domestic demand. According to research, the reduction can be linked to the rupee&#8217;s appreciation in the last 10 days.<\/p>\n\n\n\n<p><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>It is important to note that the <a href=\"https:\/\/www.zameen.com\/news\/steel-prices-hike-ntl-scrap-material.html\" target=\"_blank\" rel=\"noreferrer noopener\">steel prices hiked<\/a> in April and June while in August the prices went down. The prices rose from PKR 227,000 per ton in April to PKR 250,000 in August this year. Now, it has started to fall off and is around PKR 221,000 per ton.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The prices of domestic steel products have contracted, dipping below PKR 230,000 per ton because of the reduction in the cost of raw materials in the international market, according to news published on October 10. Read: \u2018Steel prices surge due to supply-chain disruption, raw material shortage\u2019 As per the details, the domestic steel producers \u2014 Amreli Steels Limited (ASTL) and Ittehad Steel \u2014 have announced a huge reduction of PKR 8,000 per ton in the prices of local steel rebars. The new sources disclosed that the new prices of steel rebars range between PKR 221,000 to 225,000 per ton, effective from October 10. Moreover, the decrease in steel prices is mainly because of a drop in the cost of scrap along with the retardation in domestic demand. According to research, the reduction can be linked to the rupee&#8217;s appreciation in the last 10 days. Read: Surging steel prices: ABAD urges for tax relief It is important to note that the steel prices hiked in April and June while in August the prices went down. The prices rose from PKR 227,000 per ton in April to PKR 250,000 in August this year. Now, it has started to fall off and&hellip;<\/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":[15012],"tags":[54459,53668],"persona":[],"class_list":{"0":"post-89255","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-massive-drop-in-prices-of-local-steel-products","9":"tag-steel-prices-slashed","10":"cat-15012-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Massive drop in prices of local steel products - Zameen News<\/title>\n<meta name=\"description\" content=\"The prices of domestic steel products have contracted, dipping below PKR 230,000 per ton because of the reduction in the cost of raw....\" \/>\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-in-prices-of-local-steel-products.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 local steel products - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The prices of domestic steel products have contracted, dipping below PKR 230,000 per ton because of the reduction in the cost of raw....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/massive-drop-in-prices-of-local-steel-products.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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