Iron bars to go up (again), ‘huge consequences’ for importers, construction

The prices of Iron bars used mainly for construction is expected to go up, once again.

Higher costs of freight are expected as from this month, from $500 to $900.

Mahen Gowressoo, Director of the Samlo Koyenco Steel company, has been quoted as telling the local press that the hikes will have “huge consequences” on small importers of iron.

He fears that, at this trend, the business “might no longer be profitable.”