Prices of readymix have bottomed out in Dubai and other emirates and is being sold at as low as Dh210/m3, industry officials said.
The readymix industry in Dubai and the Northern Emirates has been the hardest hit in the crisis with sales dropping severely and companies reducing profit margins to a bare minimum in an effort to attract customers.
According to officials, the industry is going through a rough patch with production levels at its lowest as many major projects have been either suspended or put on hold. They added that in some of the companies, almost 90 per cent of trucks continues to remain idle.
Prices of readymix concrete vary according to specifications prescribed by different projects and industry officials said that cost has dropped by more than Dh100 per cubic metre in the second quarter compared to the first quarter of 2009.