Demand for steel seen to improve

Malaysia Steel Association (MSA), which represents upstream integrated steel players in the country, is positive on the steel demand outlook in the next few months given the lower steel prices and the arrival of much-needed foreign workers.

WITH the normalisation of steel prices progressing well, most steel industry players expect domestic demand for the commodity to likely stage a sustained recovery in the second half of the year (2H22).

Steel rebar prices are currently trading between RM3,130 and RM3,280 per tonne, compared with RM3,400 per tonne in 1H22.