PETALING JAYA: Glovemakers are raising prices as costs rise due to the gas tariff hike, while steel manufacturers want special tariff arrangements and a freeze on natural gas prices. Its president Denis Low said the steep rise in the gas tariff translated to an additional cost of about US$0.60 to US$1.00 for every 1,000 pieces of gloves, depending on the glove type. The price of boxes has moved up three times so far this year, resulting in a 32% price increase, he said. Over the last four years, the natural gas tariff has increased six times. “This is extremely difficult for any industry to endure, what more for energy-consuming manufacturing entities in the iron and steel industry,” Misif said.

Source: The Star December 04, 2017 22:41 UTC