Prices of construction materials rose in the past two months, driven by rising demand from contractors of infrastructure projects.
The Trade Department said based the latest price monitoring report of the consumer protection group, the prices of steel bars, marine plywood and cement showed upward movements.
The report covering the week of March 28 to April 1 showed prices of steel rebars produced and sold by Cathay Pacific Steel Corp. rose to P110 per bag from P95 during the period March 21 to March 23.
The Trade Department’s price monitoring report is based on existing retail prices.
Cemex Holdings Philippines, a cement manufacturer, advised dealers and distributors about a P10-per-bag increase starting April 10.
Rizal Portland cement, one of the brands manufactured by Cemex in the Philippines, will be sold at P227 per 40-kilogram bag, up from P217 per bag previously.
Prior to the impending price hike, the brand also increased its price by P6 in the month of February.
Meanwhile, Holcim Philippines Inc. plans to bring in imported cement. Industry monitoring showed that imports were coming in at P212 per bag. Holcim Philippines plans to bring in imported cement from Vietnam at P212 per bag, the pervading rate in Palawan.
Recent industry figures showed that cement sales in 2015 reached 24.36 million metric tons, up by 14.3 percent from 21.3 million MT sold in 2014.
The Cement manufacturers Association of the Philippines attributed the increase to the huge budget of the Public Works Department for infrastructure and the increasing private sector confidence in government, better weather due to less rain and new housing financing with low interest rates.