Weak international steel prices have negatively impacted Malaysian cold roller Ornasteel Enterprise's share of the export market and ahs led the Taianese-owned company instead to concentrate its sales on the domestic market.Ornasteel forecasts that its cold rolled coil exports will be "minimal" this year. Exports of galvanized and pre-painted sheet produced at the company's Group Steel subsidiary are also likely to fall to around 60 percent of total output, compared to 80 percent last year."Prices for cold rolled material in the export market are too low, so it's not profitable for us to export for the time being," a senior Ornasteel official told MB.com. He added that CR coil export prices have fallen by more than 20 percent on a year-on-year basis. "Unlike galvanized exports, cold-rolled exports are already very cheap; there is very little room for any further downward prices adjustment," he added.
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