27/11/2025
Strictly managing construction material prices to avoid project capital overruns
Recently, the prices of many types of construction materials in Hai Phong have soaring, affecting the progress and costs of construction projects. The city has made a wide range of solutions to control supply and demand and publicize prices to stabilize the construction materials market
According to the Department of Construction, the recent fluctuations in construction material prices are attributed to many factors, notably the imbalance between supply and demand and the increase in input costs. The demand for materials increased as a series of large-scale infrastructure projects in the city as well as in the whole country were implemented, causing the prices of some key items such as steel, cement, sand, and stone to increase rapidly. Meanwhile, the supply was narrowed due to strict mining control, causing the materials to be scarce, pushing prices up rapidly and higher than the same period last year. In addition, the costs of input factors such as electricity, gasoline, coal, and clinker all increased... In the face of this situation, the Department of Construction regularly updates fluctuations in material prices and requires suppliers to send a periodic report. At the same time, the Department of Construction has coordinated with the Department of Industry and Trade and the market management force to handle cases of hoarding. In addition, the City Construction Materials Association also recommends that businesses proactively sign long-term contracts, increase reserves and switch to using green materials. This is a sound direction to reduce costs by 5-10% while protecting the environment.