Overview

The Unit Price Index of Building Materials

• The price index of steel recorded an increase between 0.1 per cent to 1.9 per cent for almost all areas in February 2024 as compared to January 2024. The highest increase in the unit price of steel were recorded in Kota Kinabalu (1.9%), followed by Terengganu & Kelantan and Sibu (0.7% respectively).
• A month-on-month comparison of the unit price index of steel and metal sections remained unchanged for most areas in Peninsular Malaysia, Sabah and Sarawak. Meanwhile, there was a slight increase in these materials price index for Terengganu & Kelantan (0.7%), Johor (0.3%) and Miri (0.2%).
• The comparison of cement also showed that the unit price index remained unchanged for almost all areas in Peninsular Malaysia, Sabah and Sarawak in February 2024. However, there was a slight increase for these materials price index in Perak (0.4%) and Pulau Pinang, Kedah & Perlis (0.1%).
• An annual comparison for the period of February 2023 and February 2024 showed that the unit price index of cement increased between 0.9 per cent and 10.2 per cent for all areas in Peninsular Malaysia, Sabah and Sarawak. However, a slight decrease was recorded in the unit price index of these materials in Kota Kinabalu (-0.7%) and Kuching (-0.1%).
• An annual comparison for price index per unit of steel showed a decrease between negative 0.2 per cent and negative 5.3 per cent for February 2024 as compared to the corresponding month of the previous year. However, the areas that record increases in price index per unit of steel were in Johor (2.1%), Sibu (1.7%) and Kota Kinabalu (0.5%).

Average Price of Selected Building Materials

• The average price of cement (Ordinary Portland) in Malaysia remained unchanged as compared to January 2024 with an average price of RM22.97 per 50kg bag.
• The average price per unit of steel, consisting of mild steel round bars and Mycon 60 high tensile deformed bars recorded a slight increase (0.4%) with an average price of RM3,679.54 per metric tonne, as compared to the previous month (January 2024: RM3,664.51 per metric tonne).

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