NewsWhore
03-26-2008, 02:10 PM
The price of a metric ton of re-bar for construction has risen by 17% in just three weeks. Known as the "atado" in Spanish ('a bundle'), the price of 2,226 pounds of steel re-enforcement bars has increased by RD$7,800 in the last 23 days, going from RD$46,000 to RD$53,800. The price increases are attributed to rising oil prices and the rising costs of freight hauling. Listin Diario interviewed Ildefonso Vasquez, the vice-president of the Hardware Association, who said he was worried because the situation cannot be controlled by the government, and the rising costs of the most basic construction supplies could affect many of the largest projects now under way. Vasquez also told reporters that the worldwide demand for steel is one of the driving forces behind the price increase. Local, smaller, hardware store owners told reporters that other articles that use steel are also increasing in price, as well as electrical wiring. In combination, these factors are slowing down local construction projects, the bread and butter of smaller hardware and building supply businesses.
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More... (http://www.dr1.com/index.html#8)