August
THE STEEL NOTICEBOARD
2023

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Average Monthly Steel Products Selling Price(per MT)
01 Billet

02 Rebar

03 Steel Wire Rod

RM2,499 - RM2,525

RM2,665 - RM2,804

RM2,740 - RM2,930

Average Monthly Raw Material Price(per MT)04 Scrap Iron

05 Iron Ore

RM1,569 - RM1,768

RM427 - RM514

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02Trade Performance
Malaysia's Trade
Performance
January-August 2023
Malaysia’s iron and steel total trade value in August 2023
contracted by 10.3 percent to RM5.2 billion from RM5.8 billion
reported in August 2022. Trade balance has improved to trade
surplus of RM492.7 million from trade surplus of RM21 million forthe same comparison period.
Malaysia’s iron & steel export in August 2023 maintained at
RM2.9 billion compared to August 2022. Three main export
destinations in August 2023 were Singapore, Hong Kong andUnited States accounting for 15.6, 14.6 and 9.5 percent of thetotal export value respectively.
Malaysia’s iron & steel import in August 2023 declined by 17.2
percent from RM2.9 billion in August 2022 to RM2.4 billion in
August 2023 . Imports from China, Japan and Korea accounted
for the top three (3) spots representing 28.1, 14.1 and 12.3
percent of the total import value respectively.
From January to August 2023, the total trade value of the ironand steel products stood at RM40.7 billion in 2023 compared to
RM47.4 billion in the same period in 2022, a reduction by 14.1
percent. Further, the trade balance improved from a trade
deficit of RM946.3 million in 2022 to a trade deficit of RM412.1
million in 2023 during the same period of comparison.
by Juliana Ahmad

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03

Malaysia Trade Performanceof Iron & Steel Industry
Month Trade Value
August 2023: RM5.2 billion

10.3% M-o-M change

August 2022: RM5.8 billion

Month Balance of Trade
August 2023: RM492.7 million
Trade Surplus

2,246.2% M-o-M change

August 2022:01
RM21.0 million
Trade Surplus

Month
02 Export
August 2023: RM2.9 billion

0% M-o-M change

August 2022: RM2.9 billion

Month ImportAugust 2023: RM2.4 billion

17.2% M-o-M change

August 2022: RM2.9 billion

YTD Trade Value
Jan - August 2023: RM40.7 billion

14.1% Y-o-Y change

Jan - August 2022: RM47.4 billion

YTD Balance of Trade
Jan - Aug 2023: RM412.1 million
Trade Deficit
Jan - Aug 2022: RM946.3 million
Trade Deficit

56.5% Y-o-Y change

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04

Sesi Perhimpunan Bulanan MITI dan Agensi Bil. 2/2023
On 1st August 2023, MATRADE hosted the Second MITI and Agency Convention. Such joint sessions are held toensure that all MITI and agency staff updated on the government's and ministry's latest developments including
policy directions so that the ministry and the agencies can act as one entity. Such a session helps MITI and theagency to remain committed to strengthening Malaysian trade, empowering the industry, and increasing investor
confidence as drivers of sustainable economic growth.
This convention was also graced by YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment,
Trade and Industry (MITI), along with Deputy Minister YB Liew Chin Tong, Datuk Hanafi Sakri, Deputy Secretary
General (Industry), Datuk Bahria Mohd Tamil, Deputy Secretary General (Management & Investment), and MITI andagencies’ top management.
by Syafiq Daniel

Majlis Memperingati Negarawan Tun Dr Ismail
On 2nd August 2023, the Ministry of Communication and Digital hosted the Majlis Memperingati Negarawan of
the late Tun Dr. Ismail as part of the Malaysia National Day 2023 celebration. YB Ahmad Fahmi Mohamed Fadzil
commenced the event with his opening remarks, emphasizing one of the event's key objectives: fostering a
sense of unity among young people. The inauguration of this event was carried out by the Prime Minister, YAB
Datuk Seri Anwar Ibrahim.
The program received valuable collaboration andsupport from ten (10) different agencies andministries, among others, the Prime Minister's
Department, Kuala Lumpur City Hall, Ministry ofHigher Education, Ministry of Youth and Sports,
Federal Territories Department, National Archives,and Putrajaya Corporation.
by Syafiq Daniel

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05

MITI Day Selangor
The Second MITI Day 2023 at the state level, organised in collaboration with 13 MITI agencies, was heldat Dewan Raja Muda Musa, Selangor, on 5th August 2023. The MITI Day was graced by YAB Tengku
Dato' Seri Amirudin Shari, Menteri Besar of Selangor. Notable attendees at the opening ceremony
included YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz (Minister of MITI), YBhg Datuk Seri
Isham Ishak (Secretary General of MITI) and Top Management MITI along with esteemed officials fromthe Selangor State Government and heads of agencies.
Some highlighted programmes during MITI Day 2023 @ Selangor are the National Standard andAccreditation Award Presentation Ceremony, the Academy in Industry (AiI) Strategic Partner
Presentation Ceremony, the Productivity Champion Certificate Presentation Ceremony and theParticipation Certificate Presentation Ceremony for the Career Exploration Exhibitor Company.
MITI Day 2023@Selangor received good support from strategic partners, the Selangor State
Government and the Shah Alam City Council. A spectrum of additional activities was also organised,
including stalls for SME entrepreneurs, appearances by local celebrities, food trucks and an EV
exhibition.

by Syafiq Daniel

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06

Good Regulatory Practice (GRP) Workshop
Amalan Baik Peraturan (Good Regulatory Practice) is a national policy aimed at improving the qualityof regulations in the public sector in Malaysia.
To enhance the understanding of Good Regulatory Practice among the Ministry of Investment Tradeand Industry (MITI) and its agencies, the Strategic Planning Division (BPS) of MITI, in collaboration with
the Malaysia Productivity Corporation (MPC), organized the Good Regulatory Practice Workshop(GRP) aimed at enhancing knowledge and promoting the implementation of Good Regulatory
Practice within the ministry and its agencies.
The workshop provided the participants with insights into best practices in regulatory processes andthe development of new regulations. It also addressed the improvement of existing regulations toensure effective and efficient delivery in the public sector.
Such an initiative helps promote Good Regulatory Practice as part of a broader reform effort toenhance regulatory practices in Malaysia, with the goal of achieving better quality regulations andgovernance in the public sector.
by Asmalyn Mohd Ali

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08ASSURE SYSTEM ROADSHOW NO.1/2023
On 24th August 2023, CIDB Holdings Sdn. Bhd., in partnership with MSI, organised an ASSURE System
Roadshow No.1/2023 at The Federation of Malaysia Hardware, Machinery & Building Materials Dealers’
Association (FMHMBA), Seri Kembangan, the first of a series of initiatives. The event was graced by
Datuk Wira Darren Chan Lian Leong, President of FMHMBA.
The main goal of this roadshow is to introduce the functions of the ASSURE system to the attendees.
This roadshow started with Mr. Zahari introducing CIDBH and continued with Mr. Hafiz giving a briefing
on the ASSURE system to the participants. The ASSURE platform is an online system designed tofacilitate product certification and consignment testing for importers of construction products andmaterials. It serves as a mandatory requirement to obtain certification of standard compliance or"Certificate of Standard Compliance" (PPS).
The event featured guest speakers, including Mr. Yong Tzen Wae from Hasilwan (M) Sdn. Bhd., whodelved into the topic of renewable energy, and Mr. Leon Lai from MSI, who introduced a training
program for the iron and steel industry.
by Syafiq Daniel

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06

Coordinate Customised Training at Melewar Steel Tube
On 28th August 2023, Malaysia SteelInstitute (MSI) hosted a training
sessiontitled"Chemical
SafetyHandling" at Melewar Steel Tube Sdn
Bhd. This educational initiative wasorganised to address the criticalimportance of safe chemical handlingpractices within the workplace. The
Chemical Safety Handling training
programme provided participants witha comprehensive understanding of
the potential hazards associated withchemical substances commonly used
in industrial settings. Attendees learned essential techniques and precautions to minimise the risks
posed by chemical exposure, including proper storage, handling, and disposal procedures. Throughthis programme, participants gained the knowledge and skills needed to identify and report chemicalhazards in their workplace promptly. By embracing a culture of safety and awareness, Melewar Steel
Tube Sdn. Bhd. aims to create a safer and healthier work environment for all employees, mitigating
potential risks and ensuring a proactive approach to chemical safety.
by Muhammad Amier

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09

Steel FactsDID YOU
KNOW?

Fun fact aboutsteel

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11Extra Steel Information
Flowchart of Iron and Steelmaking

Source: Malaysian Iron and Steel Industry Federation (MISIF)

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12

GLOBAL
STEEL

NEWS

Mercedes-Benz Signs Deal to Buy Morethan 50,000 Tonnes of Low Carbon Steel
Annually for U.S. Production
BY MARK SEGAL
18 SEPTEMBER 2023
SOURCE: HTTPS://WWW.MORGANSTANLEY.COM/IDEAS/GREEN-STEEL-LOW-CARBON

Automotive manufacturer Mercedes-Benz announced today an agreementwith U.S.-based steel producer and metals recycler Steel Dynamics for the
supply of more than 50,000 tonnes of CO2-reduced steel annually for its
plant in Tuscaloosa, Alabama.
The CO2-reduced steel is anticipated to be
production at the plant as early as this month.

introduced

into

seriesSteel Dynamics (SDI) produces steel using electric arc furnace (EAF)
technology, which uses recycled ferrous scrap as the primary raw material,and does not require the smelting of virgin iron ore or the burning of coal,
generating substantially lower levels of carbon emissions with less energy
intensity relative to traditional blast furnace steelmaking technology.
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13

According to the companies, the steel supplied by SDI will use electricity
from 100% renewable sources, which enables EAF-produced steel production
to reduce emissions by more than half compared to primary steel
production which uses blast furnaces and basic oxygen furnaces. SDI
recently signed a 308 MW Renewable Product Purchase Agreement (RPPA)
with NextEra energy, the largest of its kind to date for the North American
steel industry.
Mercedes-Benz’s Tuscaloosa plant produces SUV models including the GLE,
GLE coupé and GLS model series, as well as the all-electric EQS SUV and EQE.
All models built in the plant currently use SDI flat rolled steel made of 70% or
greater recycled scrap content, and the companies said that they haveagreed to potentially increase the share of scrap in the near future, which
would further reduce carbon footprint.
Mercedes-Benz stated earlier this year that it is pursuing a goal to achieve agreen steel supply chain from 2039 at the latest, as part of a series of ESGrelated goals and initiatives announced by the company at its ESG
Conference to investors and analysts, which also included a target toachieve an 80% reduction in CO2 emissions from production by 2030.
Dr. Gunnar Güthenke, Head of Procurement & Supplier Quality MercedesBenz Cars, said:“ O u r a m b i t i o n i s c l e a r : T o g e t h e r w i t h o u r p a r t n e r s w e w a n t t o ma k e o u r
entire fleet of new vehicles net carbon-neutral along the entire value
chain by 2039. Following this strategy our agreement with SDI to procure
more than 50,000 tonnes CO2-reduced steel annually is another importantm i l e s t o n e t o e s t a b l i s h a s u s t a i n a b l e s t e e l s u p p l y c h a i n i n N o r t h A me r i c a . ”
Mark founded ESG Today following a 20 year career ininvestment management and research. Prior to founding ESG
Today, Mark worked at Delaney Capital Management (DCM) in
Toronto, Canada, most recently as the firm’s head of U.S.
equities. While at DCM, Mark was part of the firm’s ESG team,responsible for evaluating and tracking the sustainability
factors impacting portfolio companies, and assessing thesuitability of companies for portfolio inclusion. Mark also spent
several years in the sell-side research industry, covering thetechnology and services sectors. Mark holds an MBA from
Columbia University in New York, a BBA from the Schulich Schoolof Business at York University in Toronto, and is a CFA
charterholder.
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14

Date//Time//Year

About MSI
Malaysia Steel Institute (MSI) is an industry driven enterprise
supported and funded by the Ministry of Investment, Trade &Industry (MITI) on shared responsibility basis with the industry. The
main objectives of MSI are to promote and develop thecompetitiveness, resilience and sustainability of the Malaysian Ironand steel industry; to provide advisory services and to carry out
commission or promote the study of scientific, technology andeconomic aspects of iron and steel industry development in
Malaysia; and to promote iron and steel product standardization
and utilization within Malaysia. For more information, please visit
malaysiasteelinstitute.com and follow us on Facebook, Twitter,
LinkedIn and YouTube.
Tell us what you think of our newsflash. Your input will help us
improve our services to you.

Comms.MSIOur Super Team

Syakirah Ibrahim

Assistant Manager, IRL

Jarrod Lim

Chief Executive Officer

Syafiq Daniel
Executive, IRL

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15

TRAINING PROGRAMME
2023
PROGRAMME LIST:QUALITY MANAGEMENTSAFETY MANAGEMENTTRADE PRACTICESTECHNICALSOFT SKILLSENVIROMENTAL, SOCIAL AND
GOVERNANCE (ESG)
Scan for more info

More Informationwww.malaysiasteelinstitute.com
training@malaysiasteelinstitute.com

January 2023

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You
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Thank you for taking the time to read this Newsflash. Yourattention and interest are greatly appreciated. If you haveany questions or comments, please feel free to reach out tous.

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EmailSyafiq Daniel: daniel@malaysiasteelinstitute.com
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