Malaysian government warns middlemen about prices
Malaysia Domestic Trade and Consumer Affairs Ministry has recently warned middlemen not to increase ceiling price of billets and steel bars as the prices have already been revised by the government.
According to the statement released by the Ministry, steel
billet and steel bar supply in domestic market is fairly sufficient to meet demand and the prices are stable.
Billet and steel bar prices set by the Ministry are ranging between RM 1'295-1'390 ($340-365) per ton and RM 1'530-1'675 ($405-440) per ton respectively since April 14, 2004.
Ministry also stated that those who hike prices can be charged under the Control Supply Act 1961.