Cement, prices dip in June, UAE

Cement, prices dip in June, UAE
Published: 13 July 2009

The prices of cement and steel products have fallen by up to 17.6 per cent and 10 per cent respectively in June comparing with May, reflecting the gravity of economic crisis that has slowed down the growth in the real estate sector.

The construction material price index, prepared by the Statistics Center-Abu Dhabi, or SCAD, issued on Saturday, showed volatility in June against May with prices fluctuating sharply as a result of the global economic crisis. The index that monitors 138 items, showed a decline of 61.3 per cent in the prices of construction materials in June comparing with May figures.

The statistical survey, which aimed at discouraging price manipulation, records prices of materials representing 90 per cent of the items widely used in construction.