Price index per unit of cement, steel up 2.6 pct and 1.0 pct in January

The Department of Statistics Malaysia (DOSM) said the unit price index of cement rose 2.6 per cent in January 2023 compared to December 2022 due to the increase in coal price and higher shipping costs.

The unit price index of steel went up 1.0 per cent, coinciding with the increase in the price of iron ore and steel at the global level.

According to Trading Economics, iron ore prices are expected to rise following the recovery of China's factory activity in January after three straight months of contraction reported by the China National Bureau of Statistics Manufacturing Purchasing Manager Index, chief

statistician Datuk Seri Dr Mohd Uzir Mahidin said.