Construction material costs set to rise if Strait of Hormuz blockade continues

The continued blockade of the Strait of Hormuz could push up prices of building materials, including steel and cement, a study by global construction consultant Linesight has warned.

If disruption continues in the Strait of Hormuz – a narrow waterway between Iran and the UAE – the construction industry should prepare for higher prices for aluminium, steel, copper and cement, the report states.

Iran is currently restricting access to the waterway used to ship a fifth of the world's...