Rebar manufacturers are currently quoting prices ranging from PKR 266,500 to PKR 268,500 (equivalent to USD 938 to 945). This marks a significant increase over the range of PKR 259,500 to PKR 261,500 recorded at the end of October.
Additionally, shredded scrap offers from European suppliers are also on an upward trend, currently standing in the range of US$415 to US$420 per tonne CFR Karachi. This represents an increase of $15 to $20 per ton from the previous week.
Pakistan's currency, which appreciated by 6.1% in September, has been experiencing a steady depreciation since the last week of October. This loss of value is primarily attributed to increased demand from importers.
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