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Steel sector in tight MCO spot

Steel sector
PETALING JAYA: The RM45bil domestic steel sector has been severely impacted by the prolonged Covid-19 led lockdowns with many players unable to operate and fulfil their outstanding orders, despite the current robust export market.
According to Malaysia Steel Association (MSA) president Tan Sri William Cheng, most steel manufacturers are facing tremendous financial losses, especially those operating in Selangor and Kuala Lumpur, the powerhouses of industries and services that contribute over 40% of the country’s gross domestic product (GDP). “Any extension of the enhanced movement control order (EMCO) will have dire consequences on almost all the manufacturers and businesses, ” he said. ....

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Newsbreak: Policy revisions a boon for steel industry

THE steel industry has reason to cheer this year as the government is making revisions to the iron and steel policy that are expected to benefit local players across the value chain in the long run.
The revisions come after a long wait by industry players who had submitted a White Paper in April 2019 at the request of the Ministry of International Trade and Industry (MITI) in 2018.
The White Paper was intended to form the basis for a holistic iron and steel policy for developing a more resilient, competitive and sustainable industry.
In a letter sighted by The Edge that was issued by MITI to the industry in December, the ministry outlined six revisions to the current policy: ....

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