Which building materials saw the most significant price hikes?

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Steel and Cement Showed the Most Significant Price Increases Among Building Materials

In May 2022, the average price of steel bars rose by 20% compared to May 2021, reaching RM3,910 per tonne. Cement prices also saw a substantial increase of 12.2%, with a 50 kg bag costing RM20.89 in May 2022, up from RM18.61 a year prior. These significant price jumps contributed to a broader rise in the Cost Materials of Building Index (BCI) across Peninsular Malaysia, Sabah, and Sarawak.
Steel and Steel Sections Experienced a Near 20% Price Index Increase

The price index per unit of steel and steel sections collectively increased by 19.9% in May 2022 when measured against May 2021. This overall surge is reflected in the average price of steel bars, which climbed from RM3,258 per tonne in May 2021 to RM3,910 per tonne in May 2022. Specific regions saw even more pronounced increases, with Miri recording the highest jump in steel prices at 35.9%.
Cement Prices Rose Considerably, Affecting Construction Costs

The unit price index for cement increased by 12.4% between May 2021 and May 2022. This rise in the cost of cement, a fundamental building material, contributed to the overall increase in construction material costs. In East Malaysia, the price index per unit of cement saw notable increases in Kuching (19.6%) and Kota Kinabalu (17.6%).
Other Building Materials Also Registered Price Hikes

Beyond steel and cement, most other common building materials also experienced price increases. This includes aggregates, sand, bricks and walls, roofing materials, and ceiling materials. The overall unit price index for building materials saw an increase ranging between 4.1% and 19.9%, indicating widespread cost pressures within the construction sector. For instance, both aggregates and sand recorded double-digit increases in Penang, Kedah, and Perlis, with aggregates rising by 21.7% and sand by 15.1%.

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Which building materials saw the most significant price hikes?

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