The rainy season is gradually coming to an end. With this, construction work will start gaining momentum across the country. People who were preparing to build their dream house will also be about to start now. However, disappointing news is continuously coming out for them. The prices of cement have already started increasing and now a huge increase can be seen in the price of rebar also.
The price can rise so much
According to a report by Reuters. According to this, Indian steel companies may soon increase the prices of steel. Steel companies are having to bear the burden of higher costs due to the inflation of coking coal. According to the report, steel companies can announce price increase by December. This increase in the price of steel can be 25 to 50 dollars i.e. 2000 to 4000 rupees per metric ton.
Companies started increasing the prices of steel
According to the report, some steel companies Has also started increasing the prices. Companies have increased the prices of hot-rolled and cold-rolled products by about 12-24 dollars per ton i.e. up to Rs 2000 per ton. Now if the prices of steel increase then it is natural that the prices of bars i.e. steel rods will also increase in the same proportion. In this way, there will be a direct impact on the cost of building a house.
The price of rebar has started rising
The strength of the house mainly depends on cement and rebar. These two contribute the most to the overall cost of building a house. Now the danger of bars becoming expensive is looming. There has also been a rise in their prices. An average increase of 10-12 percent has been recorded in the prices of rebar in different cities of the country in the last few months.
This is how the prices of cement increased
While cement is already Showing speed. Brokerage firm Jefferies India Private Limited had recently said that during the month of September, the average prices of cement increased by 4 percent as compared to a month earlier i.e. August. According to Jefferies India, cement prices have increased the most in Eastern India. The prices of cement which were prevailing at the end of August, increased to Rs 50 to 55 per bag at the end of September. Whereas in other parts of the country the price of cement has increased comparatively less. Analysts say that in other parts the price per bag has increased by Rs 20 during this period.
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