Islamabad: Steel prices have recently substantially reduced compared to cement. It has offered relief to the construction industry, as reported by a news source on December 15.

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The steel prices across the country have dropped to PKR 245,000. Previously, they were standing at the level of PKR 305,000. The primary reason behind this huge drop is thought to be Pakistan’s currency appreciation in contrast to the US Dollar.

According to the details shared by the steel traders in the market, the current per-ton price of local steel is PKR 245,000. On the other hand, the branded series is priced between PKR 263,000 and PKR 265,000.

Looking at the other side there has been a slight increase in the weekly prices of cement bags, which are observed during the last week in the market. According to reports from the statistics department, the price of the one-bag cement has increased by PKR5. Previously the rate was PKR1271 and now it is PKR1276.