Released March 22, 2021 | MANILA, PHILIPPINES
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Malaysian steelmakers continue to cope with overcapacity as additional steel production and lower demand plague the country's steel sector in 2021. COVID-19 has delayed several government infrastructure projects and slowed commercial construction, causing steel consumption in 2021 to decrease.
Alliance Steel (M) Sdn. Bhd., in Malaysia, has made the situation worse with its new $1 billion integrated steel mill complex in Kemaman and planned expansions in the next five years. Other steelmakers are incurring losses and have already taken a step back to move their steel projects into 2022.
Industrial Info is tracking 121 steel projects worth $11.62 billion, in Malaysia. Click here for a list of projects, and see graph below for the steel sector project spending by kickoff date.
Alliance Steel (M) Sdn. Bhd., in Malaysia, has made the situation worse with its new $1 billion integrated steel mill complex in Kemaman and planned expansions in the next five years. Other steelmakers are incurring losses and have already taken a step back to move their steel projects into 2022.
Industrial Info is tracking 121 steel projects worth $11.62 billion, in Malaysia. Click here for a list of projects, and see graph below for the steel sector project spending by kickoff date.
