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Owing to a drop in demand from the construction sector amid cold and foggy weather, coupled with plunging scrap prices, major Pakistani mills have dropped their rebar offers by PKR 5,000-6,000/t tonne ($28-34). Amreli Steels has decreased its rebar quotes by PKR 5,000/t, effective 21 January. It revised its 9.5/10mm and 12mm grade-60 rebar prices to PKR 192,500/t ex-works and 16-25mm diameter product to PKR 190,000/t ex-works. “Due to the continuous decrease…
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