iPhone | iPad
Android
Huawei
Veerendra Kumar said he was cheated by a job agent who had promised him a job in Qatar but sent him to Saudi
KT APPDOWNLOAD
Construction Material Prices Plunge
ABU DHABI - The prices of construction material led by steel have plummeted 38 per cent in December due to slow activity in the construction sector, a report said on Saturday.
According to the Abu Dhabi Statistics Centre, the prices recorded 10 to 38 per cent decline in five out of seven steel products that are integral part of the Abu Dhabi Construction Material Price Index.
The UAE-made steel bar 10-32mm, fell 38 per cent to Dh2,050 per metric tonne in December compared to Dh3,300 in November. The report further said 62 per cent of the building materials in the index had stable prices in December.
The Turkish steel bar dropped by 10 per cent while the price of Chinese binding wires fell by 20 per cent.
The report also said the UAE produced portland and white cement products recorded no change in prices.
Several domestic and international reasons were attributed to the falling raw material prices including increased use of the Chinese steel in the country, since the beginning of the fourth quarter of 2008.
The fall is also linked to the weakness in domestic demand with project slowing down and increase in the supplies of steel, prompting traders to respond to market conditions by reducing prices.
One more reason that triggered the fall was large inventories piled up by large contractors who bought huge quantities of steel in the third quarter of 2008, anticipating a price hike.
· haseebhaider@khaleejtimes.com
More news from
The government authority announced the road closure on social media platform X
Around 800,000 passengers are expected to be affected over the weekend as the damage is heavy and labour-intensive to repair
A total of 17 candidates secured the All India Rank (AIR) 1 as per the final results while earlier the number was 67
Authority said the exercise will involve movement of military vehicles and urged residents to stay away from designated areas
'I am proud of you. This is going to be historic,' the former first lady told Harris in a live video call
The application will be operational from Thursday, August 1
Prices for affordable apartments in popular areas have witnessed a rise of up to eight per cent compared to the second half of 2023