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depreciation of rupee

Hike in steel price by 20%, resulting in elevated construction cost

KARACHI:┬áThe rupee downgrading against US dollar impacts on the amplification of prices of all grades of steel, also increasing the cost of construction at extreme level. It is observed that the cost of superior quality rebar is around Rs107,000 to Rs110,000 per ton, which was Rs97,000 per ton in the month of April 2018. According to sources, Amreli Steels has hiked the rebar value by almost 4% that is Rs4000 per ton, making the new price as Rs107,000 per ton. Steel prices are fluctuating since February 2018, making it a…