Government measures affect steel sector in Malaysia positively

Government measures affect steel sector in Malaysia positively

According to the statement released by Malaysian International Trade and Industry (MITI), the measures taken by the government have started to help stabilize steel prices and increase domestic supply. As previously reported by SteelOrbis, Malaysian government lifted import license requirement on steel billets and bars, began reviewing steel prices via automatic pricing mechanism and implemented control on exports of billets and steel bars for six months to help steel producers in the country. In line with the statement of MITI, the measures taken have started to indicate their effects on steel industry. Prices have started to stabilize and supply in domestic market has started to increase.