Builders seek government intervention as steel prices surge
Steel

Builders seek government intervention as steel prices surge

Builders in Kochi have sought the centre’s interference due to the significant increase in the prices of steel and cement in India. According to them, the unchecked rising in prices will put a huge burden on the buyers.

According to the sources, in India, steel prices have increased to Rs 20,000 per tonne since last year and increased Rs 6,000 per tonne more last week.

The South India Cement Manufacturers Association said that the cement prices across the country are to be increased considerably. It suggested multiple reasons for the price hike, including unavailability of pet coke, unchecked price hike of imported coal may have caused the price hike.

The estimated increase in the production cost will be at least Rs 60 per bag of cement.

Krishna Srivastava, General Secretary of the South India Cement Manufacturers Association, said that the last few months had witnessed an unprecedented increase in the imported cost of coal and pet coke. The availability of pet coke has also decreased.

He added that the shortage of vessels, unavailability of pet coke, and high prices of coal would further increase the cement price.

He said that the increase in fuel prices would make the situation worse, making it more difficult to forecast the production volumes and capacities of the utilities.

Besides, builders in Kochi are disturbed due to the increasing input prices and their impact on real estate in Kerala.

Ravi Jacob, President of the Confederation of Real Estate Developers Associations of India (Credai)-Kochi, told the media that the rising prices of steel and cement would increase the construction cost to Rs 1,000 per sq ft, adversely affecting the consumers' needs.

He said that the price hike would leave the construction industry in a deep crisis. After the Covid-19 pandemic, the real estate sector was slowly recovering. The increasing price will put a burden on the consumers. The government's scheme of affordable housing will negatively affect the consumers with the price hike of construction materials.

Image Source

Also read: Indian Steel Association writes to PMO defending steel price hike

Builders in Kochi have sought the centre’s interference due to the significant increase in the prices of steel and cement in India. According to them, the unchecked rising in prices will put a huge burden on the buyers. According to the sources, in India, steel prices have increased to Rs 20,000 per tonne since last year and increased Rs 6,000 per tonne more last week. The South India Cement Manufacturers Association said that the cement prices across the country are to be increased considerably. It suggested multiple reasons for the price hike, including unavailability of pet coke, unchecked price hike of imported coal may have caused the price hike. The estimated increase in the production cost will be at least Rs 60 per bag of cement. Krishna Srivastava, General Secretary of the South India Cement Manufacturers Association, said that the last few months had witnessed an unprecedented increase in the imported cost of coal and pet coke. The availability of pet coke has also decreased. He added that the shortage of vessels, unavailability of pet coke, and high prices of coal would further increase the cement price. He said that the increase in fuel prices would make the situation worse, making it more difficult to forecast the production volumes and capacities of the utilities. Besides, builders in Kochi are disturbed due to the increasing input prices and their impact on real estate in Kerala. Ravi Jacob, President of the Confederation of Real Estate Developers Associations of India (Credai)-Kochi, told the media that the rising prices of steel and cement would increase the construction cost to Rs 1,000 per sq ft, adversely affecting the consumers' needs. He said that the price hike would leave the construction industry in a deep crisis. After the Covid-19 pandemic, the real estate sector was slowly recovering. The increasing price will put a burden on the consumers. The government's scheme of affordable housing will negatively affect the consumers with the price hike of construction materials. Image Source Also read: Indian Steel Association writes to PMO defending steel price hike

Next Story
Real Estate

iWO(R)K

It is commonly believed that technology is the key differentiator between a smart and an ordinary workspace. While that is true on one level, it isn’t the whole truth. Conceptually, smartness as associated with an office has evolved from technological novelty to holistic sustainability, workplaces that not only perform but also inspire, explains Dikshu Kukreja, Managing Principal, CP Kukreja Architects. “A truly smart workplace is not simply a matter of embedding devices or automated systems; it is about creating an ecosystem that balances digital intelligence, ecological sensiti..

Next Story
Technology

Bentley’s AI-Driven Infrastructure Vision

Kaushik Chakraborty, Senior Vice President, Asia Pacific & Japan, Bentley Systems, shares with PRATAP PADODE, Editor-in-Chief, CW, how Bentley is reshaping infrastructure. Through AI, model-centric workflows and innovation, technology is helping deliver projects faster, greener and more efficiently across regions.How does Bentley’s global strategy ensure its solutions meet diverse infrastructure needs?Bentley’s technology is designed to scale globally. Projects large and small – from a hotel in Udevo to a 350-km highway in Australia – demonstrate that technology is no bar..

Next Story
Equipment

Handling the Bottom Line

In a highly competitive construction environment, efficient material handling is “the silent engine of profitability”, to quote Vaibhav Kulkarni, General Manager Projects, JP Infra Realty. “It’s not just about moving materials from A to B but developing a strategy to minimise touchpoints, reduce waste and maximise spends.”Planning stageBefore investing in material, Kulkarni recommends designing the material flow. “Map the journey of major materials from the delivery point to their final placement,” he recommends. While doing this, “minimise double-handling and identif..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?