KARACHI: The price of iron ore in Pakistan has decreased by Rs 22,000 per ton, after a significant reduction in prices in the global market.
Iron ore price in Pakistan has fallen from Rs 20,000 to Rs 22,000 per tonne after a significant drop in the global market.
A report claims that Pakistan will benefit from China’s drop in steel prices. According to traders, the reduction in steel prices will benefit the construction industry.
Steel traders say that galvanized and cold steel sheets from China are selling at Rs 285,000 to Rs 295,000. Due to this iron and steel business activities have increased.
Local businessmen say that the reduction in iron ore prices in the country will provide significant relief to the construction industry due to which the construction work in the country is expected to accelerate.
The traders say that due to the increase in the price of steel, the construction work is slow due to which the traders are facing severe difficulties, but it is hoped that after the reduction in the prices, the slump in the business will ease.
