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Malaysia's apparent steel consumption (ASC) is expected to improve from last year's level of 7.9 million tonnes (mt), underpinned by the country's infrastructure projects, the Malaysian Iron and Steel Industry Federation (MISIF) said Monday.
"We see positive growth in ASC to around 8.3 mt this year. If all government's infrastructure projects kick in, the demand could surge past 9 mt. Then we are moving closer to our previous peak," the association's president Lim Hong Thye said at a press conference.
According to him, earlier investment in the semiconductor sector in Malaysia is expected to boost flat steel demand.
Meanwhile, the government's spending to spur the economy through infrastructure projects such as the Light Rail Transit project in Penang and Mass Rapid Transit (MRT) 3 project will remain key drivers for long-term product demand. (Xinhua)
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