Cement unit price index up 1.9%, steel up 1.5% in Feb 2023 — DOSM

• DOSM said the average price of cement (ordinary Portland) rose 1.5% to RM21.99 per 50 kilogrammes (kg) from RM21.66/50kg in January 2023.
• February 2023 also saw the price index per unit of steel increase by 1.5% from last month, in tandem with the rise in the prices of iron ore and steel at the global level mainly due to the continuous improvement of industrial demand in China.

KUALA LUMPUR (March 10): The Department of Statistics Malaysia (DOSM) said the unit price index of cement rose by 1.9% in February 2023 as compared with January 2023 due to higher raw material prices as well as energy and shipping costs.

In a statement today, DOSM said the average price of cement (ordinary Portland) rose 1.5% to RM21.99 per 50 kilogrammes (kg) from RM21.66/50kg in January 2023.

February 2023 also saw the price index per unit of steel increase by 1.5% from last month, in tandem with the rise in the prices of iron ore and steel at the global level mainly due to the continuous improvement of industrial demand in China.

DOSM said the average price per unit of steel consisting of mild steel round bars and Mycon 60 high tensile deformed bars climbed 1.5% to RM3,653.26 per tonne in February 2023 from RM3,599.37 per  tonne in the previous month.

“Iron ore prices are expected to remain elevated driven by optimism about future steel demand in China,” it said.

On a year-on-year basis, the unit price index for cement increased 9.6% in February 2023 compared with February 2022, while the unit price index for steel eased 0.5% in February 2023 from the same month last year.

Meanwhile, it said the Building Materials Cost Index (BCI) (without and including steel bars) for all building categories in Peninsular Malaysia increased between 0.3 and 4.1% in February 2023 compared with the previous month, with timber piling recording the highest increase.

For Sabah, the BCI rose between 0.8 and 8% in February 2023 from the previous month, while in Sarawak, the BCI grow between 0.1 and 1.5% for almost all building categories, except in Miri.