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High energy prices force cost of construction up
Prices for cement, iron and steel are expected to continue upwards this month over March as a result of price increases on input products, according to the Ministry of Finance's Price Control Department.
The price of steel rose by VND1.5-2 million (US$79-105) per tonne in March to VND14 million ($737) as a result of the 6.8-per-cent increase in the price of electricity, said the Viet Nam Steel Association.
The increase would continue this month because material suppliers from Australia and steel producers in Viet Nam announced they would increase the price of iron ore, which is used to make pig-iron, by $70-80 per tonne against February, the association said.
The price would also go up this month because it was the middle of the building season and demand was higher, it said.
The Price Watch Department said the price of domestic steel might stabilise in June. Meanwhile, the price of cement would increase by VND50,000-70,000 per tonne this month to VND1 million -1.47 million against March, the department said.
To ensure balanced supply and demand for cement on the domestic market, the Ministry of Construction has requested the Viet Nam Cement Corporation and other cement producers to supply enough cement to meet the demands of the southern market.
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