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Steel price up 20% in May

KUALA LUMPUR (June 9): The average price of steel bars increased 20% in May 2022 to RM3,910 per tonne, from RM3,258 per tonne in the corresponding period last year, following the increase in the prices of building materials, the Department of Statistics Malaysia (DoSM) said.

Chief statistician Datuk Sri Dr Mohd Uzir Mahidin said the Cost Materials of Building Index (BCI) without steel bars & with steel bars for all building category in Peninsular Malaysia, Sabah and Sarawak increased in May 2022, compared with a year ago. He said the increase in BCI for Peninsular Malaysia was between 7.8% and 15.6%, Sabah (between 4.9% and 12.9%) and Sarawak (between 7.4% and 16.5%).

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