Since January this year, prices have increased by 32.33 per cent in case of bars and rods and 25.33 per cent in case of steel structurals. In absolute terms, prices have increased by about Rs 3,500-5,500 per tonne for bars and rods.
The Construction Federation of India (CFI) has brought up this issue of rising non-flat steel prices to the notice of Prime Minister Atal Bihari Bajpayee.
CFI chairman Ajit Gulabchand, in a letter to the prime minister, said the infrastructure modernisation programme of the government stands threatened by the steep rise in steel prices.
The most affected are the nuclear power plants, which use steel in large quantities, Gulabchand said.
The hike in the price will raise the cost of the Tenth Plan infrastructure projects by about Rs 11,000 crore or more, the letter said, adding:
