Prices of construction raw materials increase as industrial activities rebound in first two months
Prices of raw material used for construction eyed a significant increase in the first two months this year. Experts attribute this surge to the rebound of China's industrial activities, as the country accelerates its economic recovery.
According to the China Securities Journal, cement prices in several Chinese cities rose by 30 to 50 yuan per ton, and cement producers' shipments increased gradually. On the demand side, the national cement market is steadily picking up as new projects started construction in March. Cement prices are expected to fluctuate between 430 yuan and 460 yuan per ton in mid-March.
In addition to cement, steel prices also rose due to expanded internal and external demand. As of Wednesday, the national steel price reached 4,655 yuan per ton, up 6.8 percent compared to December 30 last year, according to the market monitoring data of Lange Steel.
Wu Chenhui, an independent industry analyst who follows the steel industry, stated that as the country's macroeconomic situation warmed up in January and February, reflected by the accelerated infrastructure construction across the country and rising related investment, the steel prices surged due to surging demand resulting from active industrial activities.
