Copying and distributing are prohibited without permission of the publisher
Malaysia Steel Assn lobbies to triple scrap export tax
November 03, 2010 - 01:57 GMT
Malaysia Steel Assn
The Malaysia Steel Assn (MSA) has called for the government to triple export taxes on ferrous scrap to 30% or an additional 350 ringgit ($113) per tonne, whichever is higher.
If passed, the high tax would be as good as an outright ban.
"There is no reason for the government to allow export for
materials that have shortage in local market," said MSA
honorary secretary Henry Pheng Chin Guan, also ceo of
Perwaja at the MSA launch on Tuesday night. "Why should
local materials be exported and local players have to pay
higher for imports and freight charges?" Malaysia, whose
mills exclusively use ferrous scrap as feed, currently,
imports 3 million tpy of ferrous scrap, about 60% of
its needs. The government should discourage scrap
exports to give mills "a level playing field", said
MSA, noting that other countries have banned scrap
exports to ensure sufficient supply for their own mills. To
completely protect the raw material interests of local
mills, MSA is also urging...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to a premium subscription and benefit from more than 17 years of intelligence plus access to MB Company Data.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.