{"id":96067,"date":"2024-01-09T11:53:18","date_gmt":"2024-01-09T06:53:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=96067"},"modified":"2024-01-09T11:53:20","modified_gmt":"2024-01-09T06:53:20","slug":"steel-prices-rise-due-raw-material-costs","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/steel-prices-rise-due-raw-material-costs.html","title":{"rendered":"Domestic steel prices rise amid escalating raw material costs"},"content":{"rendered":"\n<p>Islamabad: In a recent announcement by domestic producers, the steel prices took a significant hike, marking an increase of PKR 7,000 per ton, according to news published on January 8.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/steel-rates-experience-major-decrease.html\" target=\"_blank\" rel=\"noreferrer noopener\">Strengthened PKR value against USD causes major drop in steel rates<\/a><\/p>\n\n\n\n<p>As per the details, the revised prices, effective from January 8 2024, now place the cost of steel rebar between PKR 262,000 and PKR 270,000 per ton. This surge is notable, as steel rebar prices have risen from the range of PKR 259,000 to PKR 264,000 observed on October 31 2023, to the current levels.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/steel-prices-witness-3rd-hike-1-month.html\" target=\"_blank\" rel=\"noreferrer noopener\">Steel prices witness 3rd hike in 1-month due to rise in cost of raw materials<\/a><\/p>\n\n\n\n<p>Moreover, the analysts point out that potential risks to the recent price hike may arise from disruptions in the procurement of raw materials. A prolonged delay in the arrival of shipments has been a contributing factor, causing a sharp incline in the price of steel rebars within the country. The prevailing high-interest rates are also playing a role in the overall increase in steel costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: In a recent announcement by domestic producers, the steel prices took a significant hike, marking an increase of PKR 7,000 per ton, according to news published on January 8. Read: Strengthened PKR value against USD causes major drop in steel rates As per the details, the revised prices, effective from January 8 2024, now place the cost of steel rebar between PKR 262,000 and PKR 270,000 per ton. This surge is notable, as steel rebar prices have risen from the range of PKR 259,000 to PKR 264,000 observed on October 31 2023, to the current levels. Read: Steel prices witness 3rd hike in 1-month due to rise in cost of raw materials Moreover, the analysts point out that potential risks to the recent price hike may arise from disruptions in the procurement of raw materials. A prolonged delay in the arrival of shipments has been a contributing factor, causing a sharp incline in the price of steel rebars within the country. The prevailing high-interest rates are also playing a role in the overall increase in steel 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":[15012],"tags":[57840,51458,49935],"persona":[],"class_list":{"0":"post-96067","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-domestic-steel-prices-rise-amid-escalating-raw-material-costs","9":"tag-steel-prices","10":"tag-steel-prices-rise-again","11":"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>Steel Prices Rise Due to Raw Material Costs- Zameen News<\/title>\n<meta name=\"description\" content=\"In a recent announcement by domestic producers, the steel prices took a significant hike, marking an increase of PKR 7,000 per ton\" \/>\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-prices-rise-due-raw-material-costs.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel Prices Rise Due to Raw Material Costs- Zameen News\" \/>\n<meta property=\"og:description\" content=\"In a recent announcement by domestic producers, the steel prices took a significant hike, marking an increase of PKR 7,000 per ton\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/steel-prices-rise-due-raw-material-costs.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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