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Rising steel prices puts Colombia's construction sector at risk

30 Dec 2021 15:23 reported by Raul Lee

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According to data from Colombia's National Administrative Department of Statistics (DANE), housing construction costs in this South American country increased by 7.53% in October 2021. In this context, the price of iron and steel grew by 33.47%. With this new increase in prices, the accumulated growth in the price of iron and steel in the country was 42% since January 2020.

For the Technical Vice President of the Colombian Chamber of Construction (Camacol), Edwin Chiriví, this increase put at risk the kick-off of works for the near future and discourage the launch of new projects, particularly low-income social interest housing. He commented that during the last year, the volume of launched social housing is 8% lower than its sales.

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