Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Lim Hong Thie, Chairman of the Malaysian BTC1 STEEL Steel Industry Federation (MISIF), stated in 2024 that Malaysia's steel utilization rate is very low (39.1%), making Malaysian steel companies highly dependent on external resources. Although the demand for the steel BTC1 STEEL industry is expected to increase by about 8.3 million tons this year, the influx of low-priced foreign resources has put pressure on Malaysian steel companies. At the same time, Tan Sri Soh Thian Lai, Chairman of the Federation of Malaysian Manufacturers (FMM), pointed out that other countries such as Indonesia and Vietnam are protecting local industries by imposing higher import taxes and non-tariff measures. Therefore, he suggested that Malaysia consider adopting similar protective measures to address global BTC1 STEEL overcapacity.
