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MISIF Blames Alliance Steel for Malaysian industry’s losses-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
10/28/2019 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
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The Malaysian Iron and Steel Industry Federation has blamed Chinese steelmaker Alliance Steel Sdn Bhd for the losses incurred by the local steel industry in the last three quarters. Misif president Datuk Lim Hong Thye claimed that Alliance Steel had been crowding out the local steel bar manufacturing segment since October last year and producing only a small amount of beam and medium section products that were supposed to be Alliance Steel’s mainstay as these are not commonly produced in Malaysia. He said that “We can see the results of every one (steelmakers) just gone down the hill. This is something that we’ve also discussed with Miti (Ministry of International Trade and Industry) for allowing such a big player to come in for like (similar) products. Even though they promised to produce beam and medium section, and only a small portion of bar and wire rod, it ended up that (bar and wire rod) is the majority of the products they are producing and it is causing a bad situation in Malaysia,.”
He said Malaysia’s rebar price today at slightly over RM1,900 per tonne is some RM300 below China’s domestic price of RM2,200 per tonne. He added that “One month ago, the price was as low as RM1,800 in Malaysia. It’s a bad situation. There’s no reason why Malaysia’s price should be so far below China’s.”
Alliance Steel is the largest steel plant in Malaysia with an annual production of 3.5 million tonnes. It is the largest investor in the Malaysia-China Kuantan Industrial Park. The steel company is owned by Guangxi Beibu Gulf Port International Group Co Ltd and Guangxi Shenglong Metallugical Co Ltd.
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020
China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
-Sheet metal exhibition, Sheet metal expo,
2020 Sheet metal exhibition, 2020 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Laser Equipment exhibition, Laser Equipment
expo, 2020 Laser Equipment exhibition, 2020 Laser Equipment expo, Laser exhibition, Laser expo
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