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Prices of construction materials to rise www.zgm.mn
Products from overseas makes up most of Mongolia's reinforcing demand. The suppliers of this product have reduced except for the steel plant. In the last 2-3 years, the construction industry has slowed down, as domestic small entities closed down. As a result, foreign producers dominated the domestic reinforcement market and construction material prices have risen. In last fall, the supply of reinforcement was cut and prices rose sharply. The price of reinforcement reached MNT 1.78-1.8 million, which is higher than the previous year.
In recent years, the cement price has been relatively stable to national producers. Several years ago, Mongolia's southern neighbor China's cement imports were almost stopped. China is exporting a small amount of cement to the eastern provinces. The price of bricks and blocks has also increased slightly. One brick equivalent of MNT 290, increased by 30 MNT compared to the last year. However, the brick factories are already started working while the block factories have not yet begun.
There are several factors that increase prices. According to traders, the exchange rate, changes regularly raises the material price automatically. For example, the CNY rate was MNT 350 last year but increased to MNT 400.
It is also becoming harder to import construction materials due to the investigation of customs control. "Previously, we used to import materials on truck. Now transportation costs have increased, as a result of additional fees," traders said. In addition, local producers emphasized the increase of domestic fuel prices triggered the other products price to rise.
Published Date:2019-05-01
