KOTA KINABALU: Steel Industries (Sabah) Sdn Bhd welcomes the announcement made by the Chief Minister Datuk Seri Panglima Hajiji Haji Noor that the State Government’s decision to temporary ban the export of scrap iron going out of Sabah.
Azrul Bin Ahmad, Executive Director of Steel Industries (Sabah) Sdn Bhd pointed out that for the steel mill, it is a volume game and thus to ensure enough supply of raw material is utmost
important.
Therefore, the price of the billets, which raw material is scrap iron has been much affected by the price of scrap iron. It impacts on the production costs and reflected in the steel bar selling price.
For the past, the steel bar price in Sabah is very volatile due to the billets cost.
Recently the steel bar price has been in the uptrend due to the rising cost of billets.
With the State Government’s decision, they can expect not only stable supply of billets but more so on its pricing.
We are confident that this will have achieved the goal of ensuring sufficient raw material supply for the local steel & construction industry.-pr/BNNO
