Overview

The Unit Price Index of Building Materials

• 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, plywood and steel & metal sections for almost all areas of Peninsular Malaysia, Sabah, and Sarawak.
• A monthly comparison in August 2023 recorded a decrease between negative 0.6 per cent and negative 4.0 per cent in the price index per unit of steel for almost all areas except Pulau Pinang, Kedah & Perlis, Kota Kinabalu and Kuching. Apart from steel, the price index per unit of steel & metal sections also recorded a decrease, which is between negative 0.3 per cent and negative 2.0 per cent for certain 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, the unit price index of cement for most areas remained unchanged as compared to July 2023 except for a slight increase for areas of Selangor, W.P. Kuala Lumpur, Melaka & Negeri Sembilan (0.3%) and Johor (1.2%). Meanwhile, decrease in prices was recorded in Penang, Kedah, Perlis (-0.1%) and Kuching (-0.2%). Nevertheless, plywood recorded a price increase of 2.8 per cent for all areas in Peninsular Malaysia, while a price decrease of negative 2.0 per cent was recorded for all areas in Sabah and Sarawak.
• An annual comparison for the period of August 2022 and August 2023 showed that the unit price index of cement has recorded an increase between 2.6 per cent and 24.1 per cent for all areas in Peninsular Malaysia, Sabah, and Sarawak except Sibu and Miri.
• The highest increase in the price index per unit of cement was in Kelantan & Terengganu (24.1%) followed by Pulau Pinang, Kedah and Perlis (19.9%). The price index per unit of steel decline between negative 0.8 per cent to negative 15.2 per cent for August 2023 as compared to the same month last year. However, an increase in the unit price index of steel was registered in Pulau Pinang, Kedah, and Perlis (1.4%).

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 RM3,620.05 per metric tonne, recording a slight decrease of 0.1 per cent as compared to the previous month (July 2023: RM3,622.85 per metric tonne).
• The average price of cement (Ordinary Portland) showed an increase at a slower rate of 0.2 per cent (July 2023: -0.1%), with an average price of RM22.89 per 50 kg as compared to RM22.84 (July 2023).

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