Rise in steel prices set to continue

Moving forward, chairman Tan Sri Mohd Desa Pachi said LSH will continue to focus its strategies and priorities on further strengthening its position via diversification away from the construction industry.

KUALA LUMPUR: Leader Steel Holdings Bhd (LSH) believes that the international uptrend in steel prices may be sustained right into the third quarter of 2021 (Q321).

In its Annual Report 2020, it said the trending steel prices are due to several factors, namely, extended lead times due to logistics disruptions and capacity resumptions, historically low inventories and higher demand from automobile markets in the United States and Europe.