Building materials cost index in April up in tandem with higher steel prices

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KUALA LUMPUR: The Building Material Cost Index (BCI) with out steel bars and with steel bars has elevated for all constructing classes between 0.1 and three.6 per cent in April 2022 with Peninsular Malaysia between 0.6 and three.4 per cent, Sabah between 0.1 and a pair of.4 per cent and Sarawak between 0.8 and three.6 per cent, stated the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin stated BCI with out steel bars for all areas in Peninsular Malaysia elevated between 0.9 and three.4 per cent for nearly all constructing classes.

“The constructing class with the best improve was two- to four-storey strengthened concrete (RC) constructing (flat roof) in Terengganu and Kelantan.

“The BCI with out steel bars in Sabah and Sarawak elevated between 0.3 and three.6 per cent for nearly all classes of constructing,” he stated in an announcement in conjunction with the division’s Building and Structural Works April 2022 report launched in the present day.

Mohd Uzir stated constructing classes with the best improve in Sabah and Sarawak had been single storey steel body (tower solely) in Kota Kinabalu and timber constructing in Kuching.

The BCI with steel bars for all areas in Peninsular Malaysia, Sabah and Sarawak elevated between 0.1 and three.6 per cent for nearly all constructing classes.

Building classes that recorded the best improve in Peninsular Malaysia was two- to four-storey RC constructing (flat roof) and five-storey and above RC constructing (for workplace) in Penang, Kedah, Perlis, Terengganu and Kelantan with 3.1 per cent, Kota Kinabalu with 2.4 per cent for single steel body (tower solely) and timber constructing in Kuching with 3.6 per cent.

Mohd Uzir stated the unit worth index for steel which consists of delicate steel spherical bars and mycon 60 excessive tensile deformed bars elevated 2.3 per cent in comparison with 1.4 per cent in the earlier month.

“The highest improve in steel was recorded in Sarawak (3.8 per cent), adopted by Kelantan, Terengganu and Pahang with 2.4 per cent.

“Almost all constructing materials akin to cement, steel, aggregates, sand, bricks and wall, roofing materials and ceiling materials elevated in April,” he stated.

Mohd Uzir famous that the World Steel Association report said the world crude steel manufacturing for 64 nations was 161.0 million tonnes in March 2022, a 5.8 per cent lower in comparison with March 2021.

Global crude steel manufacturing was 456.6 million tonnes in the primary three months of 2022, a decline of 6.8 per cent in comparison with the identical interval in 2021.

Asia and Oceania produced 331.3 million tonnes of crude steel in the primary quarter of 2022, a lower of seven.8 per cent in comparison with the primary quarter of 2021.

Meanwhile, in accordance with a World Bank report, most commodity prices are anticipated to extend in 2022 and stay excessive in the medium time period, notably for commodities the place Russia and Ukraine are key exporters, together with power and a few grains.

Commodity prices rose sharply following the beginning of the warfare in Ukraine, including to the broader post-COVID-19 rally.

The improve in power prices will drive up cost of extracting and refining metallic ores, notably aluminium, iron ore and steel. – Bernama



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