Steel prices climb 5.1pct, cement surges 7.4pct
KUALA LUMPUR: Rising steel and cement prices are adding to construction cost pressures, with cement recording an annual increase of up to 7.4 per cent in September.
Steel and cement prices have climbed, increasing construction costs, according to the Statistics Department in Kuala Lumpur. Cement prices rose by up to 7.4 percent in September, while steel prices jumped by 5.1 percent in some regions. Perak saw the biggest increase in steel prices at 5.1 percent, followed by Johor at 4.8 percent and Tawau at 3.8 percent.
Cement prices surged from 0.6 percent to 7.4 percent nationwide, with Selangor, Kuala Lumpur, Melaka, and Negri Sembilan recording the highest annual increase at 7.4 percent. On a monthly basis, cement prices rose 0.3 percent to 1.9 percent in some areas, while steel prices fell between 0.2 percent and 1.6 percent. The average price of Ordinary Portland cement remained at RM25.80 per bag, and steel prices fell 2.4 percent to RM3,431.90 per tonne.
While some building material costs have eased monthly, cement and steel prices remain higher than a year ago in certain areas. Developers and contractors are watching these prices closely as they affect construction budgets, project margins, and the cost of building new homes and commercial properties.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
