PETALING JAYA: Master Builders Association Malaysia (MBAM) is “strongly” against the safeguard measures for steel coils and rebars to prevent a repeat of the 2008 artificial rebar shortage or manipulation from happening again.
“MBAM fears that they will lead to uncontrollable prices of steel bars due to the absence of the free flow of imported steel. A few months earlier, the price of steel bars had increased from RM1,500 per tonne in January 2016 to a record high of RM2,700,” the association’s president Foo Chek Lee said in a statement.
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