Abu Dhabi steel prices climb 4.8% in June

Scad, has issued its monthly report on the prices of building materials in the emirate for the month of June and the second quarter of 2012. According to Scad’s report, the prices of several building materials groups have undergone changes during June 2012 compared with May 2012. Steel prices increased by 4.8 per cent. Reflecting rises in the items in this group in the range of four per cent for “steel bars, 6-8mm/tonne/Turkey” and 19.9 per cent for “wire/binding wire/bundle-10kg/China”. Other groups that recorded increases during the aforesaid period include the “wood” (2.6 per cent), “concrete” (2.1 per cent), “cement” (0.8 per cent) and “transport equipment rentals (0.5 per cent) groups. On the other hand, the prices of “construction labour” fell by 10.1 per cent as all items in this group decreased, with the drop ranging between 6.3 per cent for “semi-skilled workers” and 14.3 per cent for “electricians”. In addition, “aggregates and sand” decreased by seven per cent as a result of decreases in most of the items constituting this group by 5.6-13.3 per cent. “Glass” decreased by 4.5 per cent, “power cables” by 3.9 per cent and “wires for apartments” by 3.7 per cent. Scad’s report revealed that price changes during June 2012 compared with June 2011 were dominated by increases in most groups, with the largest rise recorded in the prices of “waterproofing products”, which surged 16.2 per cent, followed by “sanitary ware-bathroom set without accessories” (15.5 per cent), “glass” (13 per cent) and “cement” (12.7 per cent). By contrast, a number of building materials groups showed a decline in average prices during June 2012, compared with June 2011. These include the prices of “wires for apartments”, which tumbled 22.4 per cent, followed by “PVC pipes” (15.7 per cent), “wires for small buildings” (15.3 per cent), “power cable” (12.4 per cent) and “construction labour costs” (9.3 per cent). The reports also analysed the average prices of building materials in the second quarter of 2012 compared with with the first quarter, revealing higher average prices for most groups in the second quarter, with increases ranging from 0.4 per cent for “sink stainless steel with mixer-single” to seven per cent for the “cement” group. The average prices of “diesel”, “roofing materials”, “natural stone”, and “sanitary ware-bathroom set with accessories” showed no change in the period. On the other hand, a number of commodity groups recorded lower average prices during the second quarter, led by the decline in “construction labour costs”, which retreated 6.1 per cent, followed by “wires for apartments (5.4 per cent), “power cable” (3.9 per cent), “wires for small buildings” (2.2 per cent) and “PVC pipes” (1.6 per cent). Scad reported decreases in the average prices of most groups during the second quarter of 2012 compared with the same period in 2011. The falls ranged between 0.1 per cent for “cement blocks” and 20.9 per cent in the case of “wires for apartments”. In addition, “PVC pipes” decreased by 16.2 per cent, “wires for small buildings” by 14.9 per cent, “power cables” by 9.8 per cent and “construction labour costs” by 9.2 per cent. The average price for “diesel” and “sanitary ware-bathroom set with accessories” remained stable during the second quarter. An upward trend was also displayed by a number of other groups, ranging from 3.2 per cent for “sanitary ware-sink stainless steel with mixer-single” to 14.5 per cent for “aggregates and sand”. Price rises were also recorded in the “cement” and “glass groups, which advanced by 13.1 and 12 per cent, respectively. From khaleejtimes