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    October 28, 2020

    Pakistan – Steel builds nations

    Commodities, Iron Ore, Steel Industry

    From BR Research | Business Recorder

    Pakistan has one of the lowest consumptions of steel per capita at 35 kilograms, against 197 kilograms for Middle East, and 71 kilograms for India.

    It compares favorably with Africa, which is even lower at 28 kilograms. Steel builds nations; this was the South Korean mantra, which catalyzed its growth. It is the primary raw material for infrastructure development, and industrialization.

    Absence of an indigenous steel industry keeps an economy exposed to vagaries of exchange rate and price volatilities, while adversely affecting balance of payments situation. It further slows down infrastructure and industrial development, as any significant volatility in either commodity prices, or exchange rates often leads to significant cost over-runs…Full Story

    Anglo keeps most production targets after third-quarter dip Iron ore prices hurtle to a seven-year high

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