Steel bar price surges by Rs5,000 a tonne
Amid ascending construction movements, prices of steel bars have escalated from Rs5,000 per tonne to Rs.142,500-143,500 per tonne.
According to a builder, he received a letter from Agha Steel Industries Ltd indicating an increase in the prices by Rs5,000 to 142,500-143,500 per tonne, chalking up the price hike to an unexpected surge in International scrap prices.
During the last week of February, steel bar makers had reduced prices to Rs132,500-135,000 per tonne after attaining Rs139,500-142,500 per tonne in the first week of January.
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