Ban iron-ore exports, set up regulatory authority for cement: Builders

New Delhi: Builders in Tamil Nadu (TN) are demanding that iron ore should not be exported in view of the rising prices of steel.

The TN chapter of the Builders Association of India has requested the government for a “blanket ban” on the iron ore exports from the country to reign in galloping steel prices.

The chapter has said that the prices of steel have climbed as much as 80 percent in last three months.

"The cost of construction for real estate developers has gone up by 20 percent due to the massive increase in prices of steel,” the builders said in a statement.

They also demanded setting up of a regulatory authority for cement. “A regulatory authority is also required to reign cement prices as the cement prices have climbed up Rs 150 per bag in the recent months,” they said in the statement.