Waweru Njuguna
Developers face higher costs as global steel prices up 50%
Updated: Jul 17, 2021

Real estate project owners are staring at higher costs following a 50 percent increase in global steel prices, driven by rising demand amid supply chain disruptions in India and China due to Covid-19.
Data from the London Metal Exchange, the centre for industrial metals trading, shows that a tonne of steel bars has risen from Sh40,000 in April 2020 to Sh81,000 this week.