KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
The Malaysian building material sector saw mixed price trends in June, with steel prices softening in many areas while cement costs crept upward across the board.
Steel Prices: Sliding Downward
Month-on-month, steel prices fell between -1.0% to -3.1%.
Biggest drops:
Pahang: -3.1%
Sibu: -2.5%
Pulau Pinang, Kedah & Perlis: -2.1%
Bucking the trend:
Selangor, KL, Melaka & Negeri Sembilan: +0.4%
Miri: +0.3%
Year-on-year, steel prices were down -5.1% to -15.5% compared to June 2024.
Average steel price (mild steel + Mycon 60):
RM3,480.10/MT in June, up slightly from RM3,476.75 in May.
Cement Prices: Small but Steady Gains
Month-on-month, cement prices rose 0.1% to 0.2% in all regions.
Year-on-year, prices increased 0.3% to 3.7%, with top performers:
Johor: +3.7%
Tawau: +3.6%
Pulau Pinang, Kedah & Perlis: +2.5%
Average price of Ordinary Portland Cement:
RM23.80 per 50kg bag in June, up from RM23.75 in May.
What’s Driving the Trends?
Steel prices: Affected by global oversupply, especially from China.
Cement prices: Reflect stable domestic demand, likely driven by infrastructure projects and government initiatives.
Why It Matters
With steel prices softening and cement costs rising, construction companies may see shifts in project costs and margins. Developers, contractors, and suppliers will be closely watching for further movements, as these trends affect budgeting and profitability.
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