The Unit Price Index of Building and Structural Work Materials increased by 1.8 and 11.8 per cent in December 2022 as compared to the same period the previous year.
The Department of Statistics Malaysia (DOSM) in its release today (Jan 9) namely the ‘Special Release 2 (For Building and Structural Works) December 2022’ showed a month on month comparison according to construction materials and areas showed an increase in the unit price index for selected materials such as cement, bricks & walls, plumbing materials and paints in all areas of Peninsular Malaysia, Sabah and Sarawak.
The unit price index of cement recorded an increase of 1.5 per cent in December 2022 as compared to November 2022 and recorded an incline for two consecutive months. Coal is used as the main source of energy in the combustion process for the production of cement, therefore the increase in the price of coal is one of the reasons for the increase in the price of this material.
Meanwhile, the unit price index of steel recorded a slight decrease of 0.4 per cent as compared to November 2022. The decrease in the price index of steel was in line with the decline in the price of the world’s main commodities such as iron ore and steel at the global level.
Nevertheless, a year-on-year comparison of the unit price index on building materials recorded increases between 1.8 and 11.8 per cent in December 2022 as compared to a year ago.
The unit price index for steel and cement increased by 1.8 per cent and 8.4 per cent respectively, for December 2022 as compared to the same month of the preceding year.
Average Price of Selected Building Materials
The average price per unit of steel consisting of mild steel round bars and Mycon 60 high tensile deformed bars was RM3,576.00 per metric tonne, recording a 0.6 per cent decrease as compared to the previous month (November 2022: RM3,599.34 per metric tonne).
The average price of cement (Ordinary Portland) recorded a slight increase of 0.3 per cent which is RM20.95/ 50 kg as compared to RM20.88/ 50 kg (November 2022). Meanwhile, the average price of aggregates and sand remained unchanged which was RM41.14 per metric tonne and RM36.30 per metric tonne respectively.
However, on an annual basis, the average prices of steel and cement climbed by 10.2 per cent and 9.0 per cent respectively.
