THE worst appears to be over for the global steel sector, including that in Malaysia, after having experienced a five-year slump in global steel prices.
Steel prices have normalised following China’s decision to slash its output and clamp down on illegal mills, coupled with Malaysia’s safeguard measures, which gave local steel players some breathing space, according to Malaysian Iron and Steel Industry Federation (Misif) president Datuk Soh Thian Lai.
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