Prices for building materials are on the rise. But why?
Over the past few weeks, prices for all building materials have been observed to be rising, and many have pointed to the developing economies in Africa, China, India, Turkey, and the Middle East.
While the price of steel has risen an estimated 25 per cent, the prices of plywood and timber have gone up by around 10 per cent.
“There are a host of reasons behind this trend,” Anis Sajan, managing director of the Danube Group, said to the Kaleej Times in an interview. “The recent crackdown by pollution control agencies in China has led to several unorganised and small business to shut down. This has led to a significant quantity of products being ousted from the market. However, more businesses have come back to the organised sector, quality of the products has improved, and prices are now in tandem with the international market.”
Source: The Khaleej Times