Commerce recommended a tariff of at least 53 percent on all steel imports from 12 countries -- Brazil, China, Costa Rica, Egypt, India, Malaysia, Russia, South Korea, South Africa, Thailand, Turkey and Vietnam.
PETALING JAYA: The steel industry is expected to see a rise of 17.3% in annual electricity cost to RM1bil if the new tariff surcharge as announced by the government recently was implemented in March next year.
Voicing its concern over the impending upward adjustment of electricity tariff surcharge, the Malaysian Iron and Steel Industry Federation (Misif) in a statement yesterday urged authorities to stop the continuous increase in electricity prices to help safeguard the industry against the risks of rising business costs, especially in the current period of economic and global uncertainties.
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