Price increase of iron rods is affecting construction industry

Construction News

Price increase of iron rods is affecting construction industry

Building contractors are complaining about the steady rise in iron rods for construction in the past two months and also scarcity of the product which will impact on construction industry in the country.

Mr Angsurat Areekul, an advisor to the Association of Thai Construction Industry, claimed that, in the past two months, the price of iron rod has increased by about 23 percent to 16-17 baht per kilogramme from 13-14 baht.

Worse still, he said the price still keeps rising which will affect construction costs prompting fear that some contractors may abandon their work. He urged government authorities to step in to address the problem.

Meanwhile, Mr Sangworn Liptapallop, president of Thai Construction Industry Association, disclosed that he had received many complaints from building contractors about shortage of iron rods for construction in addition to higher prices.

He claimed that the price of iron rods had increased, in the past few months, by about 40 percent to about 20 baht per kilogramme.

He said the association had lodged a complaint with the Commerce Ministry to address the problem which will affect on the government’s infrastructure projects.

It was pointed out that the problem of iron rod shortage and rising price stemmed from China’s cutback in iron rod production.