What was the average price per tonne for steel bars in December 2023?

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The average price per tonne for steel bars in December 2023 was RM3,629.77.

In December 2023, the average price per unit of steel, encompassing both mild steel round bars and Mycon 60 high tensile deformed bars, stood at RM3,629.77 per tonne. This figure represented a modest increase of 0.2 per cent when compared to the preceding month.
Monthly Price Variations for Steel

The unit price index for steel saw increases ranging from 0.2 per cent to 1.8 per cent across most regions in December 2023 compared to November. Perak recorded the most significant rise at 1.8 per cent, followed by Johor at 1.1 per cent. Selangor, Kuala Lumpur, Melaka, and Negeri Sembilan experienced a smaller increase of 0.2 per cent. Conversely, some areas saw slight decreases in the steel price index, including Selangor, Kuala Lumpur, Melaka, and Negeri Sembilan (-0.1 per cent), Kota Kinabalu (-0.2 per cent), and Miri (-2.0 per cent).
Annual Price Comparison for Steel

When comparing December 2023 with the same month in the previous year, the unit price index for steel showed an increase between 0.5 per cent and 4.6 per cent for all surveyed areas. This indicates a general upward trend in steel prices over the year.
Contextual Factors for Steel Prices

Globally, projections from the South East Asia Iron and Steel Institute (SEAISI) in December 2023 anticipated a rise in Chinese steel prices for the upcoming year. This forecast was attributed to an expected marginal expansion in both domestic and international market demand, compounded by persistent cost pressures from high input material prices.

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What was the average price per tonne for steel bars in December 2023?

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