Steel prices in Abu Dhabi up 4.8% MoM in June, SCAD's report shows

posted on 15/07/2012: 752 views

Statistics Centre - Abu Dhabi (SCAD) issued yesterday its monthly report on the prices of building materials for the month of June and the second quarter of 2012. The report presents an analysis of the movements in the prices of the various materials used in the construction industry in Abu Dhabi retail market during June and the second quarter of 2012. The dissemination of the report, which presents a wide range of price data, is intended to serve the needs of data users in the public and private sectors for the purposes of research, planning and decision making in ways that support the construction sector as well as related and dependent sectors.

- Prices of building materials in June compared with May 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 4.0 per cent for "Steel bars, 6 - 8 mm\ ton\ Turkey" and 19.9 per cent for "Wire\ binding wire\ bundle - 10 kg\ China". Other groups that recorded increases during the aforesaid period include the "Wood" group (up 2.6 per cent), "Concrete" (up 2.1 per cent), "Cement" (up 0.8 per cent) and "Transport equipment rentals" (up 0.5 per cent).

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 7.0 per cent as 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.

- Prices of building materials in June 2012 compared with June 2011 As SCAD's report reveals, 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" (up 15.5 per cent), "Glass" (up 13.0 per cent) and "Cement" (up 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" (down 15.7 per cent), "Wires for small buildings" (down 15.3 per cent), "Power cable" (down 12.4 per cent) and "Construction labour costs" (9.3 per cent).

Prices of building materials in Q2 compared with Q1 2012 The reports also analyses the average prices of building materials in Q2 2012 compared with Q1 2012, revealing higher average prices for most groups in Q2 2012, with increases ranging from 0.4 per cent for "Sink stainless steel with mixer-single" to 7.0 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 Q2 2012 compared with Q1 2012.

On the other hand a number of commodity groups recorded lower average prices during Q2 compared with Q1 2012, led by the decline in "Construction labour costs", which retreated 6.1 per cent, followed by "Wires for apartments (down 5.4 per cent), "Power Cable" (down 3.9 per cent), "Wires for small buildings" (down 2.2 per cent) and "PVC pipes" (down 1.6 per cent).

Prices of building materials for Q2 2012 compared with Q2 2011 SCAD reported decreases in the average prices of most groups during Q2 2012 compared with Q2 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 Q2 2012, compared with Q2 2011.

An upward trend was also displayed by a number of other groups, between the aforesaid comparison periods, 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 per cent" and 12.0 per cent, respectively.

- SCAD's report monitors the prices of 21 groups of building materials.

SCAD's monthly report of building materials prices report surveys the prices of 21 groups of commodities and services that represent the most important materials used in the construction activity, including cement, aggregate, sand, wood, steel, concrete, cement blocks, etc.

SCAD has published this report since 2008. The report data are collected by the Centre's field staff on a monthly basis, in line with the directives of the emirate's leadership for the development of economic sectors and support of their stability in all areas of interest to decision makers, policy planners, researchers, etc. – Emirates News Agency, WAM

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