Steel and DAP prices rise in response to rupee devaluation

MG News | July 18, 2018 at 05:56 PM GMT+05:00

0:00

According to industry sources, steel prices have surged on the ground owing to the recent rupee devaluation. Prices of steel products have increased in the range of Rs 2000 to Rs 4000 per ton. As a result, prices of various products now range from Rs 99,000 to Rs 108,000 per ton.

Fertilizer companies have also increased DAP (diammonium phosphate) prices by Rs 100 per 50 kg bag. As a result, DAP prices now stand at Rs 3433 per 50 kg bag.

Analysts hold the view that DAP prices could be due for further hikes in the foreseeable future and expect the increase to be around Rs 150 per bag.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,204.18 326.75M	-0.12% -200.31
ALLSHR	103,326.47 682.26M	-0.11% -115.78
KSE30	52,323.58 93.96M	-0.17% -90.21
KMI30	244,733.72 73.03M	0.04% 87.89
KMIALLSHR	67,164.58 409.64M	0.17% 114.30
BKTi	47,165.45 34.74M	-0.52% -248.09
OGTi	33,329.66 4.67M	-0.27% -90.09

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,945.00	89,945.00 87,910.00	1885.00 2.14%
BRENT CRUDE	61.60	61.64 60.53	1.13 1.87%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	0.00 0.00	0.30 0.31%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	57.60	57.64 56.60	1.08 1.91%
SUGAR #11 WORLD	14.96	14.99 14.83	0.14 0.94%