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Malaysian Masteel receives US$156.6 million contract from Trafigura
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It is reported that Malaysia's Masteel has signed the 500 million Ringgit steel supply contract with the well global known trader - Trafigura recently.
According to the contract, Masteel will supply 270,000 tons of steel long products and billet to Trafigure in the future three years, helping the firm’s sales revenue grow by 10% in the coming future.
Also, Masteel's CEO said the unstable global economic situation did not injure steel long product prices in Malaysia domestic market and coming demand from Malaysia's popular construction projects may help the demand to grow further in this Q4.
Currently, about 80% of Masteel's products were supplied for domestic market only, only about 20% for export.
The CEO said the firm will focus on domestic market sales in the following few years.
News Date
6/28/2012 1:42:22 PM
reported by
Johnny Lin
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