Vietnam: Building Material Prices Keep Soaring

Prices of almost all the building materials in the local market are on the rise amid inflation of 10.01 per cent by the end of November, threatening many key infrastructure projects, local media reported on December 10.

 

Construction steel price soared to record high level of VND15 million (US$937.5) a ton, far higher than expectation of VND13 million in mid November, said state run Lao Dong web site.

 

Meanwhile, Ha Tien 1 Cement Joint Stock Company, one of the country’s leading cement producers, announced to raise price of PCB 40 cement pack to VND1 million a ton from VND975,000 since December 10. Cement brands like Holcim, Chinfon increased by VND30,000 and VND20,000 a ton to VND990,000 and VND970,000, respectively.

 

Transportation fee for a ton of cement increased by VND40,000 and craft packing paper by VND2.5 million up to 15.4 million a ton and likely to reach VND19.3 million a ton next year, said Ngo Minh Lang, director of Ha Tien Cement JSC, claming that they have no other choice but to gradually raise prices.

 

The state-owned Vietnam Cement Corp, the country’s biggest cement maker, said they will try their best so that price of cement will not increase at all of sudden. (www.thanhnien.com.vn, Labor), Labor)