Pakistan’s Steel industry news and business
Thursday February 22nd 2018

Categories

Insider

Archives

Constructing steel prices


Recently characterised by high prices, supply disruptions and business volatility, the steel industry knows challenging times. But on the cusp of a construction upturn, there is some hope for its future. Elizabeth Broomhall looks at the link between fluctuating steel prices and construction output.

Perhaps even more dependent on the construction market than aluminium, the fluctuating prices of steel have almost mirrored the twists and turns of the Middle East’s building industry during the last two years. Though steel is one of the most common raw materials, and evidently, the most used metal in the world, it is far from impervious to the effects of a global downturn.

During the boom years, the price of steel was at its peak. The demand for reinforcing steel bar (rebar) particularly, widely used in civil construction works, caused steel prices to soar from US $820 per tonne in January 2008 to a massive US $1,640 per tonne in June of the same year.[Read More]