NEWS
Aluminium   Building Materials  

Coronavirus attack might delay apartment completions by up to six months in Australia: Property dealers

The completion of residential development projects in Australia might get delayed by up to six months as cargo for building materials majorly aluminium frames held up in China due to the Coronavirus epidemic.

Mark Bainey, the CEO, Capio Property Group, said: “My company's projects were unaffected by the building supply delays, other developers — particularly the bigger ones — were likely to suffer delays in completing their projects.”

He also added, "If there's a delay in obtaining the materials from China, for the builders to source that somewhere else will push back the completion dates.”

“We may see a delay in building completions for up to six months, which will also postpone bank settlement. This is going to cost developers more money and profitability."

Brian Seidler, Executive Director, Master Builders Association for NSW, said: "Some of our members are telling their clients that the projects could be delayed because of unavoidable shipment issues from China. They are asking clients for extensions to complete the project.”

Sydney-based developer Chris Abouhamad, director of Eastern Pacific, said: “Projects were not affected yet but delays were inevitable.”

"There definitely will be delays in the future, but it is an unprecedented situation," he said.

All this will impact in future ordering for aluminium for glazing, aluminium frames and lifts.

The aluminium products can be re-specified to be 100% locally sourced, though the local supply can erupt with challenges if it could not cope up with the demand. The promoters need to explore other options, as it is a short term solution, depending on the expanse of the virus.

Chris added: "The extent of the impact is unknown for now. It’s unpredictable at this point."

Iwan Sunito, chairman and group CEO of Crown Group, said: "The prices of many of the materials we use will probably go up because of supply and demand.”

"There are a lot of products that are going to be affected by the shipment delays. The biggest issue is going to be windows – all glass and all aluminium windows come from China.”

"It’s not just Chinese supply that is affected — it will be Indonesia, Thailand and other parts of Asia too. The alternatives are to go to the US or Europe, which again, will be more expensive."

News No: 8550
Date: 2020/03/03 - 21:32
News Source: ALCIRCLE.COM

Australia  aluminium  Coronavirus  China  US 

Comments:

Leave a Comment:

   
   
   
 

President Orders Special Support for Iranian Businesses

Iranian President Hassan Rouhani earmarked 750 trillion rials in financial aid for the businesses keeping their employees amid the outbreak of the coronavirus.
 

US Extends Iran Nuclear Cooperation Sanctions Waivers

The United States has allowed companies from Russia, China, and Europe to continue their work at Iranian nuclear facilities without being subject to American sanctions, the US State Department announced.
 

Turmec installs MRF plant in Wiltshire to treat recyclable materials

Turmec has reportedly designed, supplied, and installed an advanced MRF plant in Wiltshire to treat kerbside collected comingled recyclable materials picked from around 220,000 households across the region. The plant will have the capacity to process 20 tonnes per hour of dry mixed recyclables, ensuring a high-quality separation of recycled materials is achieved.
 

New-Generation Rolls-Royce Ghost equipped with aluminium platform Spotted Testing

The new Rolls-Royce Ghost will be reinforced by a new manifested platform that has been developed in-house but will share quite a few components with the Phantom and Cullinan.
 

China’s aluminium exports may see further decline as Vietnam enters into COVID19 containment lockdown

The coronavirus pandemic is likely to create a further impact on China’s aluminium exports as a greater part of the world has come under lockdown to contain the spread of the virus.
 

Saudi Arabia’s aluminium ingot export shows dip during 2017-20

At the desert complex of Saudi Arabia’s north-eastern Gulf coast, refineries, smelters and casting machines transform dull pink rocks into silver aluminium bars, a symbol of the kingdom’s attempt to diversify its economy.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners