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DoSM: Average price of steel bar up 15.9 pct in June

07/07/2022 03:58 PM

KUALA LUMPUR, July 7 (Bernama) -- The unit price index of Building of Cost Material Index (BCI) (without steel bars and with steel bars) for all building categories in Malaysia increased in June 2022 compared with June 2021, said the Department of Statistics Malaysia (DoSM). 

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the average unit price of steel consisting of mild steel round bars and mycon 60 high tensile deformed bars increased 15.9 per cent, with the average price of steel bar at RM3,897.11 per tonne from RM3,362 per tonne in June last year.

“Cement recorded an increase of 12.2 per cent in June 2022 at RM21.05 per 50 kilogramme (kg) compared with RM18.66 per 50 kg in June 2021.

“However, the increase in prices of these two materials was slower than the previous month. The prices of most building materials such as plywood, timber, glass, bricks and walls, roofing materials and ceiling materials also registered an increase,” he said in a statement on the Building Cost Index (BCI) for June 2022 today.

The average price of building materials stated in the BCI refers to the material prices available at the outlets that sell building materials.

The department said the increase in BCI for Peninsular Malaysia was between 5.5 and 18.9 per cent, Sabah at between 0.3 and 15.8 per cent and Sarawak at between 6.0 and 23.3 per cent for the same period. 

“The BCI with steel bars for all areas in Malaysia showed increases for all building categories. The category of buildings that recorded the highest increase in Peninsular Malaysia was 5-Storey and Above (Reinforced Concrete) Building (For Office) in Selangor, Kuala Lumpur, Melaka, Negeri Sembilan, Johor, and Pahang.

”The building category that recorded the highest increase in Sabah was for Single-Storey Steel Frame (Tower Only) in Kota Kinabalu and Sandakan. Meanwhile, in Sarawak, the highest increase by building category was recorded for Reinforced Concrete Piling in Miri,” it said.

For areas in Peninsular Malaysia, the BCI without steel bars increased between 5.5 and 13.2 per cent for all building categories. The building category that recorded the highest increase was 5-Storey and Above (Reinforced Concrete) Building (For Office) in Pahang, followed by Terengganu and Kelantan.

Mohd Uzir said the price index per unit for building materials increased between 4.4 per cent to 18.5 per cent while the price index per unit of steel, as well as steel and metal sections, increased by 18.5 per cent and 16.2 per cent respectively, while the price index per unit of cement increased by 12.5 per cent in June 2022 from June 2021.

“In the context of items and regions, the highest increase for areas in Peninsular Malaysia was the steel and metal section recorded in Perak (29.8 per cent), followed by steel in Selangor, Kuala Lumpur, Melaka and Negeri Sembilan at 28.5 per cent and steel and metal sections in Pahang (28.3 per cent),” he said.

Meanwhile, the highest price index per unit of building material in Sabah was ironmongeries in Kota Kinabalu (32.7 per cent), while in Sarawak, it was steel in Miri (40.0 per cent) and glass in Kuching (23.4 per cent).

On a month-on-month comparison of building materials and selected areas, the steel and metal sections and paints in Pahang rose 3.9 per cent (May 2022: 3.2 per cent) and 2.9 per cent (May 2022: 2.4 per cent) respectively.

The floor and wall tiles in Terengganu and Kelantan rose by 3.9 per cent in comparison with May (4.0 per cent). Aggregates also increased in almost all areas in Peninsular Malaysia, Sabah and Sarawak, while other building materials in some areas remained unchanged.

The department said all areas recorded a change in the index for timber of 1.3 per cent as compared to 0.5 per cent in May. The change in the index was due to the increase in timber prices from January to March this year.

According to the World Steel Association report, the global steel demand is expected to increase this year and next year, despite the uncertainty caused by the war in Ukraine and lockdown in China, while global steel consumption is expected to increase to 1.84 billion tonnes in 2022. In 2023, steel demand is forecast to increase 2.2 per cent to 1.88 billion tonnes.


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