KUALA LUMPUR – The Building Material Cost Index (BCI) (without steel bars and with steel bars) had increased in October 2021, rising by between 0.1 and 2.3% in Peninsular Malaysia.
In a statement today, the Statistics Department said the BCI also rose in Sabah (between 0.1 and 2.1%) and in Sarawak (between 0.1 and 1.5%).
Steel prices were higher during the month, with Perak recording the highest increase at 3.4%, followed by Sandakan (2.7%), Miri (2.6%), Selangor and the Federal Territory of Kuala Lumpur (2.2%), Sibu (0.5%) and Kuching (0.1%).
Meanwhile, Pahang showed the highest increase in terms of cement prices (2.0%), followed by Perak (1.2%).
Steel and metal sections for Miri and Sandakan also increased by 3.3% and 2.3%, respectively.
“The increase in the price of building materials, including cement, steel and iron materials, was due to the increase in the price of coal and petroleum products globally.
“Building materials became more expensive after construction activities resumed, due to the government’s implementation of the Movement Control Order in June 2021 and the four phases of the National Recovery Plan,” it said.
The government had allowed construction-related activities to resume starting October 22, 2021.
“Following the increase in the price of building materials, especially steel and cement, the Malaysian Public Works Department suggested for the Ministry of Finance to extend the Variation of Price until next year to make sure that government projects are not affected and can be completed on schedule,” added the department. – Bernama, November 11, 2021
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