Sichuan Municipal Price Bureau has called on all local authorities to implement temporary price intervention measures and to monitor and control the prices of construction steels used for post-earthquake reconstruction work in order to stabilize the market price.
The move forms part of emergency measures being taken in the wake of the earthquake measuring 8.0 on the Richter scale which hit Sichuan Province on May 12, causing the deaths of around 70,000 people and widespread devastation.
As of May 27, the relevant departments in the cities of Chengdu, Mianyang, Deyang, Guangyuan, Ya'an and Abazhou in Sichuan Province will choose one or two counties in each administrative region to launch emergency monitoring measures, requesting a daily report on supply & demand dynamics and prices of eight construction steel types, including wire rod and rebar, and of building materials such as cement, bricks, tiles and lumber.