The domestic prices of steel products have fallen by Rs. 45,000 per ton following a sudden drop in the cost of raw materials in the international market.
Domestic steel producers have announced a significant reduction in the prices of Cold Rolled Coil (CRC) and Hot Dipped Galvanized Coil (HDGC) by Rs. 45,000 per ton, as reported by JS Research.
Starting from August 23, 2024, the new price for 1 mm CRC is Rs. 211,500 per ton, while HDGC is priced at Rs. 220,800 per ton.
The decline was also triggered by weak demand during a strong construction season from July to September, with further price cuts anticipated as Pakistan moves through the end of the summer.
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