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Wednesday, April 19, 2006
Prices of building materials go up as demand rises
Prices of basic and prime commodities in Cebu City remained stable last week except for construction materials, the Department of Trade and Industry (DTI) Cebu’s price monitoring survey reveals.
According to data furnished by DTI Cebu, the price of a 10-millimeter (mm) steel bar increased to P99.05 from P97.57 while the cost of a 12-mm steel bar went up to 142.75 from P140.75 each last week.
Prices of Portland cement and Pozzolan cement per 40-kilogram bag remained the same at P172 and P170, respectively.
No surprise
The DTI data showed that popular brands of commodities, such as canned fish, processed milk, coffee, laundry soap, salt and flour were stable.
In an interview yesterday, Cebu Contractors Association president George Hong said the constant change of prices of construction materials is no longer a surprise for the contractors and industry players.
“Prices of materials go up and down every time. It’s driven by supply and demand. We take it as part of the game and it doesn’t stop us from our doing our business,” he said.
He said most of local contractors benefit from investors putting up offices and buildings for call centers and other information technology firms and tourism-related industries.
He cited the Cebu International Convention Center in Mandaue City and the Park Lane International Hotel.
In an earlier interview, Cebu Chamber of Commerce and Industry president Francis Monera said Cebu’s two winning industries, the information and communications technology and tourism, help boost real estate business. (ALC)
For Bisaya stories from Cebu. Click here. (April 19, 2006 issue)
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