Prices of key construction materials like MS rod, brick and sand have shot up significantly in the country due to increase in cost of raw materials, higher demand and rise in operational expenditures, traders said.
They also said with the beginning of the dry season, construction activities across the country are also gaining momentum, indicating a busy time ahead for the building material suppliers.
However, such price volatility of the materials caused concern among the realtors, especially in the private sector.
There is no way to refrain from construction work although everything is getting pricier day by day, said Amjad Hossain, a house builder in the city's Aftab Nagar area.
"We couldn't begin construction work of our several residential projects amid the Covid pandemic. Now, there is no other alternative but to start and continue construction activities - whatever the materials' prices are," he added.
Talking to the FE, several rod sellers in Old Dhaka said prices of the material are going through repeated ups and downs, as the millers have to adjust retail prices in line with the global market prices and demand in the local market.
Tanim Rahman, a proprietor of Dewan Traders in the city's North South Road area, told the FE that the prices of similar quality rod vary from brand to brand.
"Most of the steel millers increased prices of their products in last one month, while some of them reduced slightly after a major hike, and some didn't lower," he noted.
He also said the prices of both 72-grade and 60-grade rods increased robustly amid the Covid pandemic.
According to data available with the Trading Corporation of Bangladesh (TCB), 60-grade MS rod was selling between Tk 77,500 and Tk 80,500 per tonne last week, which was almost 28 per cent higher than the corresponding period of last year.
Besides, 40-grade rod was selling between Tk 75,500 and Tk 77,500 per tonne, which was nearly 33 per cent higher than the same period a year ago.
Deputy Managing Director of Bangladesh Steel Re-Rolling Mills Ltd (BSRM) Tapan Sengupta said rod prices largely depend on the cost of procuring raw materials or scrap metals from other countries.
"Per tonne scrap metal is selling at prices between US$550 and $565, depending on various factors."
The pandemic has made both the local and international markets volatile. The current prices are expected to remain stable, if no change takes place in the global market, he said, adding that the demand for the metallic ingredients is usual now.
According to sources, scrap metal prices hovered between $275 and $350 per tonne in the pre-pandemic situation, which usually go up in every December.
Meanwhile, prices of cement, another key building material, have been stable for several months.
According to retailers, per 50-kg cement bag is selling at prices between Tk 520 and Tk 560, depending on manufacturing brand and quality.
Osman Mia, a brick and sand trader in the city's Gabtoli area, said currently one truck (3,000 pieces) of best quality brick is selling at prices between Tk 28,000 and Tk 30,000, which was Tk 24,000 to Tk 25,000 three months ago.
"Price of per tonne coal, used in the kilns, has already gone high comparing to the previous year," he noted.
Another trader - Imran Mia - said brick prices are expected to come down in the coming days, as all the kilns have begun operating for this season.
Per truck better quality brick-chips (khoa) was selling at around Tk 15,000, he added.
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