The Global Perspective on Construction Materials Prices

Slow down? What slow down. Construction material prices in many markets around the world continue to increase rapidly. In the UAE for example, the cost of steel has risen by about 15% this month alone, with the expectation that prices might rise a further 5% in the ensuing week.

The global demand for rebar sits at about 218M tons, with the Middle and Far East representing roughly 65-70% of that demand. In fact, in the Gulf states, the value of civil projects comes in at a whopping $1.5 TRILLION. Middle East rebard demand for instances, is roughly 15 times that of the United Kingdom, and several more million tons that demand for reinforcing bar in the United States.

Layer on energy prices and rising headline inflation rates around the world and it is easy to see that construction prices, even in the face of the slowdown we are in, are not abating, and will only likely do so when MEA markets slowdown.

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