Sign up | Log in



Home  >>  Daily News  >>  Malaysia News  >>  Commodities  >>  Malaysian firm sees 15-20% increase in steel prices
NEWS UPDATES 17 February 2010

Malaysian firm sees 15-20% increase in steel prices

Related Stories

January 30, 2010
Malaysia’s biodiesel scheme faces delay

January 27, 2010
Malaysia sees palm oil shipments earning 100bn ringgit by 2020

November 14, 2009
Malaysia’s natural rubber production rose in September

November 12, 2009
Malaysia’s biodiesel exports defy NGO attacks

November 9, 2009
Malaysia hosts world’s largest palm oil event

Steel prices are expected to jump a further 15 percent to 20 percent after the Chinese New Year as governments in East Asia restart spending on major infrastructure-related projects and restocking activities increase, the Star Biz reported, quoting Malaysia Steel Works (KL) Bhd (Masteel) managing director Datuk Seri Tai Hean Leng.

The current steel bar price in the domestic market is about 2,000 ringgit ($585) per tonne while the international market price is about $565.

He said the steel industry was heading for a recovery with an average capacity utilisation of about 70 percent to 75 percent due to an improvement in steel demand from East Asia.

The higher cost of raw materials like iron ore and scrap metal, given the extreme cold winter, could also result in steel prices rising in the coming months.

“Many industry players are expecting an increase in restocking activities as consumers (steel buyers) prepare for strong construction demand by end-February,” Tai told StarBiz.

Malaysia, Indonesia, the Philippines, Singapore and Thailand are expected to spend a total of about 102 billion ringgit on infrastructure projects, financed by their economic stimulus packages.

He also expects locally-made steel billets to command higher prices in the regional markets as the local products were of a higher grade compared with those from China.

“The Middle East, Australia, Pakistan and Bangladesh will also be favourable export markets for local billets, should these economies continue to improve,” he said.

According to Tai, Masteel was looking forward to boosting the sale of its premium steel products which conform to the Australian and New Zealand standards.



Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand