Russia faces with sharp growth of metal prices this year

Russia's Prime-Minister Mikhail Mishustin. Photo: Dmitry Astakhov TASS

Prices for metals in Russia have more than doubled over the last 12 months, according to recent statements, made by National Association of Builders and local media reports.

 

This has been recently confirmed by the president of the National Association of Builders (NOSTROY), head of the commission on pricing in the construction of the Public Council under the Russian Ministry of Construction Anton Glushkov.

 

According to Glushkov, metal prices significantly affects the cost of housing construction. In general, according to him, the change in the costs of construction grew by 20%-25% over the last year, depending on the region.

 

At the end of 2020, metal prices began to rise sharply in Russia, and later other building materials also rose in price. In August, the Russian government allowed to increase the prices of state contracts for construction, reconstruction and modernization by up to 30% to compensate for the rise in prices for building materials.

By: Eugene Gerden