Construction Material Prices Rise, Contractors Face Big Losses
Prices of construction materials have continuously increased since the end of February this year, leaving contractors facing big losses.
Cement prices have gone up by VND25,000-30,000/ton due to higher input costs. At present, Hoang Thach cement is being sold at VND810,000/ton in Hanoi, But Son cement VND790,000/ton and Haiphong cement VND770,000/ton.
A seller in the city said these are just prices at the factories, retail prices are even higher. Cement prices are predicted to continue rising following high production costs.
Along with cement price hikes, prices of construction steel have also increased rapidly, by VND600-800/kg, due to price hikes of steel ingot imports from China, Russia and Japan and higher input costs such as electricity and coal.
“Once prices of cement and steel go up, prices of tiles, stone, sand and others also increase,” the seller said.
Such sharp price hikes have serious impacts on consumers.
Nguyen Duc Thien, a construction contractor, said with such escalating prices, costs for construction work will increase by 15-25 per cent compared to several months ago, making big losses for contractors. (Hanoinet, baomoi.com)
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