Coimbatore: Steel Prices Up 20%, Hurting Construction Activity
COIMBATORE: This month, TMT steel prices—a critical component in construction—have surged by 20% compared to last month, leading builders’ associations to express concerns about a potential slowdown in construction activities, particularly in housing projects. A builder based in Coimbatore noted that steel prices have risen by ₹10 to ₹12 per kg, resulting in higher construction costs than originally anticipated. The price per tonne has now increased from ₹62,000 to ₹72,000. While cement and brick prices remain stable, the significant rise in steel costs has forced builders to adjust their project estimates accordingly. This increase equates to nearly ₹50 per square…