Malaysian traders seek duty reduction

Malaysian traders seek duty reduction

The Malaysian Hardware, Machinery & Building Materials Dealers Association (MHMBMD) asked the government to lower import duties on steel products. MHMBMD suggested that the Malaysian government revoke those duties that are lower than 5% on imported steel products. The steel products that would be affected include seamless pipes, plates of thickness above 32 mm, electro-galvanized plates and ship building plates. MHMBMD pointed out that many of the measures were previously enacted in order to prevent cheap imports. However, argued the association, there is no longer a threat of cheap imports since international prices have reached peak levels.