Malaysia's steel prices increased

According to the Department of Statistics Malaysia (DOSM), the steel unit price index increased in January 2024 compared to the previous month, ranging from 0.4% to 3.3% in most regions.

Chief Statistician Datuk Seri Mohd Uzir Mahidin noted that Perak experienced the highest increase in the unit price of steel at 3.3%, followed by Pahang at 0.8%, and Penang, Kedah, Perlis, and Kuching at 0.6% each.

However, the unit price index for steel and metal profiles remained unchanged in most areas of Peninsular Malaysia, Sabah, and Sarawak. There was a slight decrease in the price index for Penang, Kedah, and Perlis (-0.8%), Johor (-0.3%), Kota Kinabalu (-0.1%), and Sandakan (-2.2%). Perak and Kuching saw slight increases of 0.9% and 0.2%, respectively.

Regarding cement, the unit price index remained steady for most areas in Peninsular Malaysia, Sabah, and Sarawak in January 2024. However, there was a slight increase in the unit price index for Penang, Kedah, and Perlis (0.8%).