The steel sector has been absorbing the increasing cost of inputs by reducing its net margins that hover around 4 to 5 per cent recently. PALSP represents the documented & transparent steel sector comprising the most credible players of the steel sector. “However, the good news is that the sudden hike of raw material prices is a sort of bubble, created by supply chain disruptions that create a shortage of metal scrap in the global market. However, with such meagre profitability and an array of tariff and tax anomalies, who would like to invest in the steel sector? Chairman ABAD Fayyaz Ilyas had termed the increase in cement and steel prices a conspiracy against the construction industry.

Source: Pakistan Today September 06, 2021 15:33 UTC