KARACHI: Steel bar prices has
fallen to record low after the ongoing anti-smuggling crackdowns on steel scrap
and a drop in the US Dollar (USD) rates, ARY News reported on Wednesday.
After
the drop in USD rate and curbs on steel scrap smuggling, the prices of the
steel bar fell to a record low by Rs50,000 per tonne. The steel bar prices were
dropped to Rs240,000 from Rs290,000.
A trader said that a
significant drop in prices will be made for the consumers if production cost is
further reduced. The cost of construction materials was significantly increased
across the country this year