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Steel rebar prices start rising again
Rates go up on the back of increase in cost of production
KARACHI:
Steel rebar prices have once again started rising due to an increase in electricity tariff and raw material prices in the international market.
The increase in prices of rebars came on the back of a rise in the cost of production, said JS Global steel analyst Arsalan Ahmed in comments to The Express Tribune.
Domestic steel rebar prices are expected to cross Rs150,000 per ton due to a surge in global scrap rates, which have gone up from $350 per ton in October to $455 per ton, and because of a recent 10% increase in power tariff for the energy-intensive steel industry.
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