Building materials consumption expected to rise in Q4

Bags of cement are being transferred on to a vehicle at a factory. (Source: VNA)

The consumption of building materials is predicted to rise in the fourth quarter this year as the real estate sector is showing signs of recovery.

According to the Building Materials Department under the Ministry of Construction, production and consumption of building materials has increased 20 percent from the beginning of this year. Cement alone rose 10 percent.

As of the end of August, the whole country had consumed 46.92 million tonnes of cement, up 10 percent against the same period last year and reaching 65 percent of the yearly target.

The cement consumption in August alone was 6.08 million tonnes, lower than that of July but up 19 percent from one year ago.

While local consumption is down, cement exports in August reached 1.25 million tonnes and increased 25 percent against the same period last year.

The cement export volume for the eight months of 2015 was 10.9 million tonnes, up 17 percent and completing 57.3 percent of the year’s goal.

In the remaining months of 2015, building materials in general and cement in particular will enter their peak consumption months.

Many real estate projects are entering their final phase of completion or breaking ground, propping up the growth of the building material market.-VNA