MBAM expects steel prices to move up

PETALING JAYA: The Master Builders Association of Malaysia (MBAM) expects steel prices to move up by 5% to 10% this year.

Its deputy president Kwan Foh Kwai said international steel prices have moved up last month at the same quantum.

"We expect it to move up further. It will, however, not be a substantial increase as prices are expected to remain sustainable and manageable," he said at the launch of MBAM Resource Centre on March 3.

The price of raw building materials like steel and cement have been stable, he added.

"We will continue to monitor the movement of prices of raw materials especially those which are influenced easily by oil prices, for example cement," he said.