Steel remains competitive

Soh: ‘To stay competitive, the steel sector is urging the Government not to issue new licences on products currently produced.’

PETALING JAYA: The local steel industry is still viable and competitive given the increasing demand in the apparent steel consumption (ASC), which has crossed the 10 million tonnes mark last year, said Malaysian Iron and Steel Industry Federation (MISIF) president Datuk Soh Thian Lai.

The ASC is expected to grow by 4% per annum from 2014 to 2016, he said, adding that the projection is 10.5 million tonnes this year, 10.8 million tonnes in 2015 and 11 million tonnes in 2016 based on the baseline growth .