PRICE INDEX OF SAND UP BETWEEN 0.2% AND 2.6% IN APRIL - DOSM

The unit price index of sand increased between 0.2% and 2.6% in April compared to the previous month, said the Department of Statistics Malaysia (DOSM).

The highest increase was in Pulau Pinang, Kedah, and Perlis (2.6%), followed by Selangor, Kuala Lumpur, Melaka and Negeri Sembilan (1.2%) and Terengganu and Kelantan (0.9%).

On the unit price index of steel, chief statistician Datuk Seri Mohd Uzir Mahidin said the monthly comparison of steel showed that the unit price index remained unchanged for almost all areas in Peninsular Malaysia, Sabah and Sarawak.

“There was a slight decrease in Selangor, Kuala Lumpur, Melaka and Negeri Sembilan (0.5%) and Tawau (0.4%),” he said in a statement.

There was a slight increase in the price index of steel in Pulau Pinang, Kedah and Perlis dan Kota Kinabalu (0.5%).

For the monthly comparison of cement, the unit price index remained unchanged for almost all areas in Peninsular Malaysia, Sabah and Sarawak in April 2024.

However, there was a slight increase in Selangor, Kuala Lumpur, Melaka and Negeri Sembilan (1.9%). An annual comparison for the period of April 2023 and April 2024 showed that the unit price index of cement increased between 1.9% and 7.1% for all areas in Peninsular Malaysia, Sabah and Sarawak.

The highest increase was in Pulau Pinang, Kedah and Perlis (7.1%), followed by Terengganu and Kelantan (5.7%), Selangor, Kuala Lumpur, Melaka and Negeri Sembilan (4.4%) and Tawau (2.2%).

Citing a Commodity Market Outlook report by the World Bank in April, Mohd Uzir said steel demand is envisaged to remain subdued in 2024, given the continuing weakness in residential construction activity in China following a 20% (year on year) decline in new home starting 2023.

“In addition, although steel output is expected to recover in 2025, the anticipated increase in iron ore production in Australia and Brazil, along with new projects elsewhere, is likely to put further downward pressure on prices,” he added. “As a result, prices are forecast to decline by 9.0% in 2024 (year on year), and a further 5.0% in 2025.