Cement, Steel prices in Pakistan for November 2024

For those planning to build their homes, understanding the current cement and steel prices is a vital first step in the decision-making process.

As of November 2024, the prices for top cement brands in Pakistan, including Bestway Cement, Maple Leaf Cement, and DG Khan Cement, have risen to approximately Rs 1500 per bag.

For those seeking more economical choices, some other brands are offering cement at a lower price, around Rs 1400 per bag. This increase in cement prices is a reflection of market demand and the current import conditions affecting the construction sector.

In addition to cement, steel prices are also an essential factor for homebuilders. The cost of 60-grade steel bars is currently Rs 250 per kilogram (kg), with other brands priced between Rs 250 and Rs 255 per kg.

This fluctuation in prices is similarly influenced by market trends and the availability of steel in the market.

Despite the rise in domestic prices, Pakistan’s cement exports have seen a notable increase. According to the All Pakistan Cement Manufacturers Association, cement exports surged by 71.52 percent (pc) in September 2024, reaching 978,871 tons, compared to 570,692 tons in the same month of the previous year. This significant rise in exports highlights the growing demand for Pakistani cement in international markets.

However, the domestic market has faced a different trend, with local cement sales continuing to decline. Domestic cement sales dropped by 18pc in September 2024, with overall cement sales for the month falling by 5.63pc. During the July-September 2024 period, domestic sales saw a decrease of 19.78pc, totalling 8.130 million tons. Despite the decline in local demand, cement exports during this period rose by 22.19pc, reaching 2.140 million tons, marking the fourth consecutive month of reduced domestic sales, even as exports continue to grow.

This shift reflects a complex dynamic in the construction sector, with external demand rising while domestic sales remain sluggish.