Builders’ Association wants TMT steel prices controlled

In a letter to the PM and Union Minister of Steel Dharmendra Pradhan, Mu Mohan, president of the association, that the construction and infrastructure industry has the maximum utilisation – about 60 to 65 per cent – of steel production.

“In the present scenario, we observe that major TMT steel manufacturing units have increased the price of TMT steel, which is used in highway projects, in the last four to five weeks. Furthermore, a vacuum has been created in supply chain management of TMT steel, and manufacturers are informing customers that TMT steel that was delivered within few days of order placement would now take 30 to 40 days to deliver,” he said.

The letter added that the escalation in price and delay in delivering TMT steel have adversely affected the progress of the highway projects under execution. The concessionaires are not able to continue the work, which would delay the target set by the Ministry of Road Transport and Highways (MORTH).