The Delhi government on May 18 has allowed resumption of construction activity in the national capital with in-state labourers. Though, casual workers from other states will still have to follow movement restrictions.
The move comes as a relief for developers and builders with projects remaining shut for over 50 days. A rise in construction activity will also drive demand for finished steel products like rebar, structural steel among others from within and outside the state.
Despite the announcement, activities are likely to be slow as only a fraction of the required labour force remains available.
Steel trades, therefore, will also gain momentum gradually feels a Delhi steelmaker.
He further adds prices of construction material including rebar have surged since the central government started granting few relaxations from April 20. Rebar prices in Raipur rose by Rs2,500/mt and by Rs1,000/mt in Mumbai since then.