Malaysia of the opinion that steel shortage to cease soon
According to the recent statement released by Malaysian government, steel shortage in the country will come to an end in two or three-month's time.
As previously reported by SteelOrbis, Malaysian government took certain measures to help local steel producers, who have been suffering from shortage of raw material and the high prices. In the framework of measures, including lifting of import license requirement and implementing control on export of steel
billet and bar, it is expected that shortage problem especially felt in
construction sector, will soon be solved.
Shortage of steel led to increase in the prices of steel and steel related products in
Malaysia. Accordingly, costs of
construction increased by 10-15% since January 2003.