A month-on-month comparison of construction materials and selected areas showed a decrease in the unit price index for selected materials such as steel, plumbing materials and steel & metal sections for almost all areas of Peninsular Malaysia, Sabah, and Sarawak.
A month-on-month comparison in July 2023 recorded a decrease in the price index per unit of steel, which is between 0.5 per cent and 4.0 per cent for almost all areas of Peninsular Malaysia, Sabah and Sarawak.
The price index per unit of steel & metal sections also recorded a decrease, which is between 0.2 per cent and 4.0 per cent for several areas in Peninsular Malaysia, Sabah and Sarawak.
The decrease in the price index of steel and steel & metal sections was in line with the scenario of decreases in the prices of steel and iron ore at the global level. Apart from steel and steel & metal sections, cement has started to record a price decrease as compared to June 2023 with a decline rate between 0.2 per cent and 1.7 per cent.
Nevertheless, a monthly comparison of construction materials and selected areas showed that aggregates increased in price between 0.2 per cent and 2.7 per cent.
An annual comparison for the period of July 2022 and July 2023 showed that the unit price index of cement recorded an increase between 2.9 per cent and 23.8 per cent for all areas in Peninsular Malaysia, Sabah, and Sarawak.
The increase for areas in Peninsular Malaysia for cement was Kelantan & Terengganu (23.8%) and Pulau Pinang, Kedah & Perlis (18.0%). Meanwhile, the price index for a unit of construction materials that recorded the highest increase in Sabah was plumbing materials in Kota Kinabalu (14.6%), while in Sarawak it was timber in Sibu (31.7%) and bricks & wall materials in Miri (21.1%).
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 RM3,622.86 per metric tonne, recorded 1.8 per cent decrease as compared to the previous month (June 2023: RM3,689.50 per metric tonne).
The average price of cement (Ordinary Portland) decreased at a slower rate of 0.1 per cent (June 2023: +0.2%), with an average price of RM22.84 per 50 kg as compared to RM22.86 (June 2023).