Steel rebar prices spiked by up to Rs3,000/ton
MG News | November 28, 2023 at 01:11 PM GMT+05:00
November 28, 2023 (MLN): The steel rebar prices in the country have surged by up to Rs3,000/ton owing to a rise in production costs and an uptick in demand.
Following the rate hike, the retail prices for steel rebar stand within a range of Rs265,000 per ton to Rs274,000 per ton.
According to Waqas Ghani, a research analyst at JS Global, producers are effectively passing on these increased production costs to consumers owing to robust demand.
He reiterated that such price hikes have been witnessed before, noting that this marks the fourth or fifth consecutive increase in the respective prices.
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