Pakistan’s major rebar manufacturers have sharply reduced prices, bringing current ex-works levels to PKR 225,000-230,000 (USD 800-807) per ton. Last month, prices from leading producers ranged between PKR 250,000-255,000 (USD 886-904) per ton EXW.
The long steel sector has struggled throughout the year due to weak demand, prompting major producers to accelerate financial restructuring, cost-cutting efforts, and, in some cases, temporary shutdowns of steel units.
Despite the challenging environment, manufacturers are cautiously optimistic about the outlook. Expectations of higher government spending on infrastructure, supported by post-flood reconstruction plans, along with stronger action against tax evasion and efforts to curb steel smuggling across the Iran border, are seen as key factors that could revive demand. A more stable currency is also expected to support market sentiment heading into next year.
1 USD / 282.5 PKR
