Steel millers hit by cheap Chinese imports

Challenging: YKGI has manufacturing facilities in Demak Laut Industrial Park in Kuching and in Selangor.

KUCHING: Local steel millers, which have been hard hit by the imports of cheap steel products from China, will continue to face a tough operating environment unless the authorities’ come up fast with effective measures to curb imports.

According to YKGI Holdings Bhd chairman Lim Pang Kiam, the company was “ruthlessly and relentlessly” affected by the influx of cheap steel imports from China, and that this over-supply situation had led to depressed steel prices.