Our checks from several sources confirm the increments to our reporters in Accra, Kumasi and Tamale who went round in a bid to confirm the increment.
MyNewsGh.com realized builders mostly focus on changes in the price of cement which has been used as a major determinant of the cost of building projects and rents leaving out all other factors such as Iron rods.
Some patrons interviewed complained that prices of almost all building materials in Ghana have shot up, from wood, nails, tiles, stones and sand have all gone very disturbingly high over the past few weeks.
The new, added development is that the price of Iron rods on the market has also shot up by an average of 40% depending on the vendor you’re dealing with. Some may reduce their prices depending on the quantity a customer is buying but across board, price has shot up.
The price of iron rods varies from size to size starting from 1/4 (6mm) to 32mm (40ft) high tensile.
A 12mm standard High tensile rod per ton which cost Ghc3,950 now goes averagely for Ghc5,400 on the market.
Checks show price per unit and for a ton of iron rod has gone up across.
See old prices for comparisons.
Source: MyNewsGh.com/Stephen Zoure/2021