Cement and steel prices fell in Nov on supply rise

February, 06th 2011

ABU DHABI - The construction materials’ prices in Abu Dhabi showed a declining trend in November as cement, construction steel and wood rates fell as compared to a month ago. However, the prices of other building materials remained relatively stable, said Statistics Centre — Abu Dhabi (SCAD).

In its report on the building materials’ prices, the centre said electrical cables, wires and PVC pipes recorded increase in prices during November.

The centre attributed the downward trend in the building materials’ prices to a steady rise in the supply of locally made as well as imported items, ?coupled with the relatively slow construction.

The report saw a decline ranging between 0.1-3 per cent month-on-month in the prices of most of the cement products during November 2010. The price of Etihad and Emirates sulphate resistant cement brands plummeted three per cent and 1.2 per cent month-on-month, respectively.

The price of standard Portland cement also dropped 2.3 per cent, while white cement fell 0.1 per cent in the same period. However, Omani Gypsum was an exception as it grew 3.4 per cent, while the price of Omani lime stabilised in November 2010, compared to a month ago.

The price of construction steel, one of the most important building materials, showed a decline of 1.2 per cent to 13.2 per cent month-on-month in the prices of most steel items during November 2010. The largest decline was in the price of steel bars 10-32 mm from Qatar, which plunged 13.2 ?per cent.

On the other hand, the prices of aggregate and sand remained stable during the month of November reflecting a balance in the supply and demand.

The SCAD’s report shows a 7.2- 9.7 per cent rise in the average prices of UAE made electrical wires in November compared with prices a month ago. However, the prices of most types of UAE made electrical wires for buildings decreased by 0.6- 4.2 per cent, while Omani made electrical wires for buildings advanced by 6.2 and 10.6 per cent.

A similar trend was also reported in the prices of PVC pipes, which increased by 1.6 - 1.8 per cent during the same period.

Source: khaleejtimes.com