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[Malaysia]
Posted on : Nov 16, 2008
Malaysia’s trade minister Tan
Sri Muhyiddin Yassin has lifted the export ban on scrap metal to enable scrap
dealers to clear their stock that has piled up over the months.

The Malaysian Iron and Steel Industry Federation says retraction of the export
ban is to help dealers find export markets for scrap metal and tie them over in
this difficult period. ‘But if allowed to continue over a longer period of time,
continued exports will lead to reduction in supply to local steel mills, who in
turn, will need to import more to make up for the quantity lost through
exports,’ the association says.

The steel federation asked the government to investigate scrap dealers’ claim
that steel mills are not buying scrap metal and this has resulted in huge
stockpiles. ‘The federation views ferrous metal is a resource and feedstock for
a major industry and will be best reserved for the national industry despite the
slower production. The steel mills have not stopped buying scrap from local
sources but have more or less maintained purchasing levels,’ it says in a
statement.

As a whole, Malaysia’s steel industry uses about 5 million tonnes of scrap metal
every year and 65 to 70% of the requirement are imported annually while the
balance sourced from local scrap suppliers.
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