As imports of steel from China increase in Latin America, countries like Peru have been experiencing a decline in the cost of building materials.
According to media reports, the cost of civil construction materials (IPCM) in Peru has declined in the months of June and July.
According to the nation’s institute of statistics, Inei, the cost of building materials diminished 0.31 percent in June and 0.18 percent in July.
“Such a trend is explained by the side of the supply, since it keeps the reduction of steel prices, as Chinese steel has invaded all the world, including Peru, declining the IPCM index [in June and July],” said César Guzmán-Marquina, general manager at constructor company Produktiva.
According to media reports, the decline in the cost of building materials in July was caused by the decrease in metal prices, including cold and hot-rolled steel sheets, whose prices diminished 4.9 and 3 percent, respectively, and rebar (down 1.5 percent).