KUALA LUMPUR – The unit price index of steel rose 0.9% in March 2023 from 1.5% in February in tandem with the increasing trend of iron ore and steel prices at the global level, said the Statistics Department.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the unit price index of cement rose by 1.1% in March compared with February, attributed to the rise in production costs, including the price of raw materials such as limestone, coal, energy, and shipping costs.
“In addition, a year-on-year comparison of the unit price index on building materials recorded an increase between 1.2% and 10.2% in March compared with the same month a year ago.
“The unit price index for cement and bricks, as well as walls, increased by 10.2% and 8.0%, respectively, in March compared with a year ago.
“The unit price index for steel recorded a decrease of 0.6%,” DoSM said in a statement today.
Uzir explained that the average price per unit of steel consisting of mild steel round bars and Mycon 60 high tensile deformed bars was RM3,691.66 per metric tonne, a 0.8% increase from RM3,662.23 per metric tonne in February 2023.
The average price of cement (Ordinary Portland) also increased 1.1% to RM22.40/50kg compared with RM22.15/50kg in February 2023.
The Building Cost Material Index (BCI) without steel bars and including steel bars for all building categories in Peninsular Malaysia increased between 0.2% and 2.7% in March compared with the previous month.
“The BCI without steel bars and including steel bars for Sabah recorded a slower increase for almost all construction categories between 0.1% and 0.5% in March 2023 compared with the previous month,” the department said. – Bernama, April 7, 2023
