Prices of construction materials have increased dramatically over the last month in Ho Chi Minh City, causing delays in construction.
|Prices of construction materials have increased sharply in Ho Chi Minh City|
Bricks have climbed to VND1.2 million (US$75) per thousand bricks, an increase of VND500,000 (US$31) over last month.
Sand prices have increased by VND20,000 (US$1.25) per cubic meter to VND120,000 (US$7.5), stone by VND30,000 (US$1.8) to VND180,000 (US$11.25) per cubic meter.
Yesterday, the wholesale price of iron was over VND14 million (US$875) per ton, up over VND2 million (US$125) against last month.
Prices of all kinds of corrugated iron from Ton Sai Gon Co. and Lotus Corporation have also gone up, by VND500-1,000 (US$0.03-0.06) per sheet, versus early this year.
Construction companies have complained the construction materials market has changed disastrously.
Many items like sand and tile are usually in short supply and have increased by over 10 percent partly due to increasing transportation fees. Construction works have been delayed to avoid losses, some until after lunar new year when prices are expected to fall back.