Tootoo.com Forecasts Price Surge in China's Building Materials

The price of Chinese building materials began to surge last year, of which hardware has increased about 20%, according to China's third generation online business-to-business (B2B) platform Tootoo.com with more than 100,000,000 business websites, 8,000,000 companies information and more than 15,000,000 products. In 2008, ceramic tile, one of the main material of the decorating industry, is expected to increase about 10%.

The wood, rolled steel and some other materials used in decoration will also increase. Hardware products, especially those made from copper and aluminum is expected to increase the most. The price of wire has increased from 2.8 Yuan per meter at the end of last year to 3.5 Yuan per meter. Copper faucet has also increased about 20 or 30 Yuan. At the same time, hardware made from aluminum is also rising, such as the pull of door and cabinet, lock, aluminum alloy doors and windows, hardware used in toilets and so on. The range of increase is between 10%-30%.

While the copper industry in China has suffered heavily in the face of high copper prices, the air-condition industry has been hit most and that the hardware industry, such as cable and building materials industry, have also been heavily affected. Information from Tootoo.com shows that the global financial crisis is already having an effect on the Chinese economy, especially on the hardware industry. With only 25%-30% of hardware enterprises maintaining a stable prospect, nearly 40% of hardware enterprises are struggling for survival, with some shutting down shops or about to go bankrupt.

In order to make up for the negative impact of rising raw material prices, some hardware manufacturers have announced that prices will go up for their products, while some will turn to innovate the technology to relief the cost.

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