Domestic Steel Bar prices feared to increase further as Govt snubs Sector Woes

Karachi, February 22, 2021: The domestic steel re-bar prices are feared to cross Rs150,000 per tonne on massive surge in global scrap rates, which have gone up from $350 per tonne in October to $455 per tonne, and recent 10pc increase in power tariffs for the energy-intensive steel industry. The industry sources say the higher steel prices could jeopardize the government’s…