Malaysian Steelmakers’ Association applied to the government to triple increase of export duties for steel scrap to 30% or at least by MYR 350 (USD 113) per tonne.
In opinion of the association, such high tax will have the same positive impact to the market as the total ban.
It said that “The government has no reasons to allow export of materials in which there is a shortage in the local market believes Henry Pheng Chin Guan, the head of Perwaja why local materials should be exported while local consumers should pay high prices for import and freight?