9,312.13 TRY BIST 100 BIST 100
38.20 USD USD USD
5.25 CNY CNY CNY
43.91 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
100.29 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

Malaysia aims to strengthen steel sector through collaboration with China

Malaysia is working toward establishing an intergovernmental framework with China to manage capacity and facilitate technology exchange in the steel industry.

Malaysia aims to strengthen steel sector through collaboration with China

Deputy Minister of Investment, Trade and Industry Liew Chin Tong announced at the 14th Malaysian Iron and Steel Association (MISIF) Conference on the State and Prospects of the Malaysian Iron and Steel Industry that Malaysia is working toward establishing an intergovernmental framework with China to manage capacity and facilitate technology exchange in the steel industry. During his address, Liew highlighted the steel industry’s key challenges, particularly the issues of overcapacity and the urgent need for green transformation.

Liew emphasized that Malaysia's iron and steel sector requires a more robust governance structure. He pointed out that while organizations like the Malaysian Steel Board and the Malaysian Steel Institute oversee the sector, their operations need strengthening to provide better industry support. According to Liew, the Malaysian Steel Board should convene more frequently and receive diverse industry insights. In contrast, the Malaysian Steel Institute requires a major restructuring to become a source of reliable policy guidance.

In addition to these domestic improvements, Malaysia has invited China to participate in dialogues at the ASEAN level. This collaboration aims to address shared challenges in the steel industry and explore avenues for regional partnerships, building on China’s extensive experience in industrial management and capacity governance.

Liew also addressed the imbalance between Malaysia’s long-term domestic production capacity and imported fixed products, emphasizing that investments in local flat product manufacturing could play a crucial role in stabilizing the market. By building domestic capacity, he added, Malaysia can strengthen the economic sustainability of its steel sector while meeting local demand.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Qatar Chamber and German delegation strengthen economic cooperation

Thursday, April 24, 2025

Mining partnership between Algeria and China

Thursday, April 24, 2025

Europe in the Process of Green Transformation: Is the Steel Industry Ready for Carbon Adjustment at the Border? 

Thursday, April 24, 2025

İÇDAŞ signs tugboat agreement with maritime company Damen

Thursday, April 24, 2025

Canada launches AD investigation into steel imports from 10 countries, including Türkiye

Thursday, April 24, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now