Due to the fear of recession in the global market, the price of iron ore in Pakistan decreased to 22 thousand rupees per ton.
Pakistan’s largest exporter of steel and iron ore, including China, has seen a drop in iron ore prices across the country due to fears of recession in other global markets.
The price of iron per ton in Pakistan decreased from 20,000 to 22,000 rupees, Pakistan will benefit from the cheapness of steel in China.
Due to the global recession, the price of steel has come down from Rs 320,000 to less than Rs 2 lakh. Traders say that the reduction in steel prices will further boost the construction sector.
Business activity has increased due to fall in prices of sulfur and steel in the country.