Prices of construction materials like iron and steel, cement, stone, and sand have increased relentlessly since the beginning of this year due to a surge in demand caused by the peak construction period being delayed by COVID-19 from February-April last year.

 

In recent times steel manufacturers have been notifying customers of higher prices of all types of finished steel.

 

They have increased six times, adding up to VNĐ2.4 million per tonne, including three times in March alone (VNĐ1.6 million).

 

According to manufacturers, the prices of billets and other raw materials have shot up, and they have hiked steel prices to more than VNĐ19 million per tonne.

 

The prices of many other construction materials such as sand and bricks have increased by 10-20 per cent since the beginning of the year.

 

In HCM City, most building materials and interior decoration stores have hiked prices: levelling sand is VNĐ170,000-190,000 per cubic metre, building sand is VNĐ400,000 - 470,000, pipe bricks are VNĐ1,3001,400 each, and cement is more than VNĐ90,000 per bag.

 

Besides, suppliers used to deliver goods until recently, but now retailers need to foot the shipping costs.

 

Ceramic tiles, imitation wood and plastic floor panels, laminate flooring, and water-based paint all cost more now.

 

Nguyễn Hoàng Trung, the owner of a store on Nguyễn Đình Chiểu Street, District 3, said steel prices have reached VNĐ20 million per tonne and could rise further.

 

The Vietnam Association of Building Materials said due to the sharp increase in input costs, especially petroleum, businesses are forced to increase prices. – VNS