[Mohsin Munir]

Steel prices INCREASED

So after cement, it is now steel prices which have witnessed sharp increase within days. From 102 Rs/kg in mid of June 2019, prices have jumped to almost 115 Rs/kg by the end of June 2019. Reason only being the devaluation of Pakistani Rupee against the dollar. 80-85% raw material used in making of rebar/steel is imported, import duties and increase in dollar price has made it difficult as a result of which mill owners have increased per kg prices of steel.