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FINANCIAL NEWS
Abu Dhabi steel prices up 6% in March
29 Apr 2010
(MENAFN) Statistics Centre Abu Dhabi (SCAD) said in its monthly bulletin that the average price of steel in March increased by 6.6 percent over February and steel bars rose 16.2 percent from a year earlier, Gulf News reported.
Overall, building materials prices show general stability, with the various types of cement shedding an average of 0.3 percent and lumber edging up 0.1 percent. Concrete prices added an average of 12.8 percent.
The increase in concrete prices was driven by a 13 percent rise in Emirates standard ready-mixed concrete and 12.7 percent in Emirates sulphate-resistant ready-mixed concrete.
The rise in the average price of steel was the result of a 2.5 percent increase per ton of flat steel, 5.5 percent for high tensile steel, 4.3 percent for RBC mesh and 29.5 percent for binding wire.
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