In the context of geopolitical tensions in the Middle East disrupting supply and pushing energy costs up sharply, aluminum prices in the world market have risen to their highest level in nearly 4 years.
In Vietnam, the sharp increase in raw aluminum billet prices has caused businesses to adjust prices upwards.
As the owner of an aluminum and glass trading and processing facility in Phong Chau ward (Phu Tho), Mr. Vu Dinh Thinh shared with PV in a worried mood: "Aluminum, glass, and stainless steel production units have all announced that they will increase selling prices. In which, the price of shaped aluminum rods increased by 10,000 VND/kg.
According to Mr. Thinh, the reasons given by businesses are mainly based on the impact of the war situation in the Middle East, leading to high and scarce input material prices.
Aluminum prices have increased rapidly, in the first half of this year alone, they have increased 2 times, to about 22%. High prices put great pressure on production costs, increasing product costs. With contracts signed from last year, if done at the current price, there is no profit, even losses" - Mr. Thinh assessed.
And Mr. Nguyen Quoc Huy is a resident in Xuan Lung commune, Phu Tho province who is in the process of building a new house.
In recent days, regularly updating the prices of construction materials, seeing that the price of aluminum has increased sharply, Mr. Huy and his wife cannot help but worry.
Showing reporters the perspective, design of the house and the amount of aluminum to be used, Mr. Huy worried that the initial calculations about the construction cost of the house would increase a lot when the price of aluminum and other materials increased.
Iron and steel prices, electricity and water prices and now aluminum prices have all increased a lot. If they continue to increase in the near future, husband and wife may have to change the design of doors and windows from aluminum to industrial wood" - Mr. Huy confided.
Regarding this, according to Mr. Thinh, aluminum and glass doors are preferred by people over industrial wood because they are more durable, waterproof, absolutely anti-termites and not warped, suitable for hot and humid climates.
Not only businesses, people's demand for aluminum materials is very large, the increase in aluminum prices puts pressure on spending and limits access to quality products, so I hope that levels will have solutions to stabilize prices" - Mr. Thinh shared.
