The Strategist

Building materials prices in Japan hit record high

03/23/2022 - 08:44

Prices for various types of building materials made of steel rose in Japan to a 13-year high, the Nikkei newspaper reported.

Various types of steel building materials required in the construction of high-rise buildings have risen to maximum values against the background of the conflict in Ukraine. Imports of this type of products from Russia and Ukraine amount to 11% of the world figures.

The publication notes the rise in prices of other types of building materials. In particular, 60% of wood building materials that Japan imports for the construction of walls and floors come from Russia.

The cost of building materials accounts for up to 60% of the cost of construction of high-rise office buildings and residential buildings.