Cement and concrete prices in Abu Dhabi fell this week by three and six per cent compared to the previous week, according to figures released by the Statistics Centre, Abu Dhabi.
Traders in the emirate are of the opinion that prices would fall further as demand continues to weaken across the region.
Prices of Al Etihad Portland Cement fell by three per cent, from Dh330 to Dh320 per tonne, compared to the previous week, while the price of sulphate resistant cement and white cement remained constant at Dh345 per tonne and Dh600 per tonne, respectively.
The demand in Abu Dhabi has been declining, but at a lesser rate compared to the other emirates.
"Although there has been an overall decline in demand during the past six to eight months, construction activity has slowed down further during Ramadan," said Ajay Mathur, General Manager of AAC Cement. According to him, the prices of cement could fall further although the demand could improve post Eid.
"The situation, especially in Dubai, is expected to improve by the end of 2009," said Mathur. "However, I am not sure if the trend will reflect in the movement of prices. At least for the next two months prices will continue to remain the same, if not drop further."