Anticipated Surge in Construction Material Prices during Q3

Based on the market fluctuations observed in the construction material sector during the first half of this year, the Ministry of Construction has projected a continued increase in the prices of construction sand and stone in the third quarter of 2023. This prediction is attributed to the simultaneous commencement of major transportation projects nationwide since the beginning of the year.

The Ministry of Construction anticipates a significant surge in demand for construction soil, stone, and sand during Q3 2023. As a result, the prices of these essential construction materials are expected to rise, posing challenges for investors, construction companies, and local authorities.

The forecast takes into account the fluctuations witnessed in the construction material market during the initial six months of this year. The simultaneous initiation of significant infrastructure projects across the country, including the 10 sub-projects of the East North-South Expressway in the 2021-2025 period, Belt Road No. 4 in Hanoi, Belt Road No. 3 in Ho Chi Minh City, Biên Hòa-Vũng Tàu Expressway, and Châu Đốc – Cần Thơ – Sóc Trăng Expressway, is expected to contribute to the price escalation.