Steel, cement price increased in August than a year ago – DOSM

In August, steel prices continued to rise compared to the same period a year ago. Perak experienced the steepest increase, with a 6.9 percent jump in the building material unit price index, followed by Johor at 6.4 percent. On a month-on-month basis, however, steel's unit price index saw a slight decline, ranging from -0.3 percent to -2.4 percent across various regions.

Selangor, Kuala Lumpur, Melaka, and Negeri Sembilan recorded a 2.4 percent decrease in steel prices compared to a year ago, while Perak saw a 1.3 percent decrease and Pahang a 0.7 percent decrease.

Steel prices also experienced a minor drop (-0.3%) in August, with an average price of RM3,484.20 per metric tonne, down from RM3,496.10 per MT in July. Meanwhile, the unit price index for sand also increased in August, with Kota Kinabalu recording the highest jump at 7.7 percent compared to July. Perak saw a 2.4 percent increase in its sand unit price index, while the index remained relatively flat in Selangor, Kuala Lumpur, Melaka, Negeri Sembilan, and Sibu.

Cement prices saw a modest increase in August, ranging from 0.3 percent to 0.9 percent month-on-month. Kota Kinabalu, Selangor, Kuala Lumpur, Melaka, and Negeri Sembilan experienced the highest growth, with a 0.9 percent increase in cement's unit price index. Terengganu and Kelantan also witnessed a 0.3 percent increase. However, on a year-on-year basis, cement's unit price index saw a more significant surge in Kuching (6.7 percent), Miri (6.6 percent), and Kelantan and Terengganu (5.9 percent).

The average price of Ordinary Portland cement rose 0.3 percent in August, reaching RM25.80 per 50 kg bag, up from RM25.70 per 50 kg bag in July.