STO slices prices on steel by 14 percent

State Trading Organization (STO) has sliced prices on their retailed steel products.

According to the state-owned enterprise, customers purchasing steel products from their STO Construction Solution will be able to purchase steel products at reduced rates.

STO has sliced retail prices on steel products by 14 percent.

Prices on construction-related products had surged in light of Covid-19 pandemic. Retail prices on steel, aluminum and similar articles of iron lifted significantly due to supply and demand constraints during the global pandemic.

Confirming this price reduction, STO further highlights it will continue slicing prices on other construction-related products prospectively. STO notes their effort is to resolve the supply and demand challenges.