Steel Bar Prices Decline, Construction Industry Gets Much-Needed Relief

Lahore: According to news articles published on October 13, the price of steel bars has significantly dropped as a result of the dollar's depreciation and the crackdown on the smuggling of iron scrap.

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It's important to note that the cost of steel bars has decreased by PKR 50,000 per tonne, bringing the price per tonne down from PKR 290,000 to PKR 240,000. Traders think that lowered production costs could result in lower prices for common customers. However, they also raised concern about the fact that customers haven't received much respite, particularly in light of the growing prices of gas and electricity bills.

It is crucial to note that the cost of building supplies has increased dramatically across the nation this year, putting the construction industry in danger of failing. Prices of necessary building supplies like, bricks, and cement have also surged up.