Malaysia's steel consumption sets to rise, driven by infrastructure projects
Time:Thu, 04 Jul 2024 09:14:25 +0800
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Malaysia's apparent steel consumption (ASC) is projected to rise from last year's 7.9 million tons, driven by infrastructure projects, according to the Malaysian Iron and Steel Industry Federation (MISIF).
MISIF President Lim Hong Thye anticipates ASC growth to about 8.3 million tons this year. If all government infrastructure projects proceed, demand could exceed 9 million tons, approaching the previous peak.
Investment in Malaysia's semiconductor sector is expected to boost the demand for flat steel. Additionally, government spending on infrastructure projects, including the Penang Light Rail Transit and Mass Rapid Transit (MRT) 3, will be key drivers for long-term product demand.
