Price of Steel Rods Stabilizes
THE price of steel rods (varillas) used for construction has stabilized since a large shipment of steel entered the country two weeks ago, according to the Ministry of Economy, Industry and Commerce.
In recent months, the construction of massive public works and industrial projects in China has sparked a worldwide shortage of steel and a sharp increase in the product’s international price.
The shortage directly affected Costa Rica, where, on average, the price of steel rods increased 10.95% during January. The most dramatic increase was to the price of 3/8-inch rods – the most commonly used type – which increased by 27%. The increase resulted in a nearly 30% drop in construction in Costa Rica during January (TT, Feb. 27).
The new shipment succeeded in stabilizing rod prices here but has done little to reduce them, according to Ministry statistics.
You may be interested
Response to disaster: aid successes, struggles in post-Maria Puerto RicoJohn McPhaul - December 13, 2017
As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…
Looking back at Hurricane Maria: the initial impactJohn McPhaul - December 12, 2017
As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…