THE Commerce Ministry said today (May 22) that ongoing US-Iran war has led to the construction materials price index rising 112.4 points in April, a jump of 5.9%, which is the highest in 44 months, according to PPTVHD36.
Mr. Nantapong Chiralerspong, director of the Trade Policy and Strategy Office, said as the Middle East war has pushed up oil and other energy prices, this has also impacted the production and logistics chains of construction materials, causing price increases in almost all categories.
Details are as follows:
– Wood products category increased by 1.0% due to prices of formwork timber, framing timber, doors and windows climbing as a result of higher raw material and transportation costs;
– Cement category surged by 2.8% due to prices of Portland, blended and ready-mixed cement soaring as a result of higher energy costs (coal, natural gas), as it is a high-energy-consuming industry;
– Concrete products category soared by 5.6% due to prices of precast reinforced concrete slabs, precast concrete beams, and ready-mixed concrete rising as a result of higher raw material (cement, stone, sand) and transportation costs;
– Steel and steel products category jumped by 6.2% due to prices in ribbed and smooth reinforcing bars, black steel pipes, and steel sheet piles rising as a result of higher raw material and energy costs (billets, scrap metal, coal), as well as steeper transportation and shipping charges;
– Tile category increased by 1.3% as a result of prices of concrete roofing tiles, translucent roofing sheets, and glazed floor tiles edging up due to higher energy (natural gas) and raw material (coatings, silica) costs.
The trend is for the construction materials price index to swing higher year-on-year this month too as the Middle East war drags on and the Strait of Hormuz remains shut, Nantapong said.
In particular, building materials that require high temperatures in their production processes, such as steel, cement, tiles, and sanitary ware, as well as construction materials with petrochemical raw materials, such as PVC pipes (plastic pellets), paints, and waterproofing agents (solvents), and asphalt (derived from crude oil refining), are being hit with higher costs.
CAPTIONS:
A pile of wooden frames, above, and a graphic image of prices of building materials rising, Front Page. Above photo – PPTVHD36, Front Page – Amarin TV
Insert – Director of the Trade Policy and Strategy Office Nantapong Chiralerspong. Photo – PPTVHD36
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