November
THE STEEL NOTICEBOARD
2023

https://malaysiasteelinstitute.com/

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

02 Steel Bar

03 Steel Wire Rod

RM2,477 - RM2,517

RM2,742 - RM2,802

RM2,802 - RM2,972

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

RM1,571 - RM1,737

05 Iron Ore

RM470 - RM640

https://malaysiasteelinstitute.com/

02Trade Performance
Malaysia's Trade
Performance
January-November 2023
Malaysia’s iron and steel total trade value in November 2023
grew by 9.8 percent to RM5.6 billion from RM5.1 billion in
November 2022. The trade balance has narrowed from asurplus of RM273.8 million in 2022 to a surplus of RM66.1 million
in 2023 during the corresponding period of comparison.
Malaysia’s iron & steel export in November 2023 rose by 3.7
percent to RM2.8 billion in 2023 from RM2.7 billion in 2022. Threemain export destinations in November 2023 were Singapore,
Australia and Hong Kong accounting for 14.8, 7.4 and 7.0
percent of the total export value respectively.
Malaysia’s iron & steel import in November 2023 grew by 16.7
percent from RM2.4 billion in 2022 to RM2.8 billion in 2023.
Imports from China, Japan and Korea accounted for the top
three (3) spots representing 29.4, 15.0 and 10.1 percent of thetotal import value respectively.
From January to November 2023, the total trade value of theiron and steel products stood at RM56.8 billion in 2023
compared to RM62.5 billion in the same period in 2022, a
reduction by 9.1 percent. Further, the trade balance widened
from a trade surplus of RM356.1 million in 2022 to a trade deficitof RM1,375.5 million in 2023 during the same period ofcomparison.
by Juliana Ahmad

https://malaysiasteelinstitute.com/

03

Malaysia Trade Performanceof Iron & Steel Industry
Month Trade Value
November 2023: RM5.6 billion

9.8% M-o-M change

November 2022: RM5.1 billion

Month Balance of Trade
November 2023: RM66.1 million
Trade Surplus

75.9% M-o-M change

November 2022: RM273.8 million
01
Trade Surplus

Month
02 Export
November 2023: RM2.8 billion

3.7% M-o-M change

November 2022: RM2.7 billion

Month Import
November 2023: RM2.8 billion

16.7% M-o-M change

November 2022: RM2.4 billion

YTD Trade Value
Jan - Nov 2023: RM56.8 billion

9.1% Y-o-Y change

Jan - Nov 2022: RM62.5 billion

YTD Balance of Trade
Jan - Nov 2023: (RM1,375.5 million)
Trade Deficit
Jan - Nov 2022: RM356.1 million
Trade Surplus

486.3% Y-o-Y change

https://malaysiasteelinstitute.com/

04

MISIF 2023 Trade ForumOn 2nd November 2023, MSI attended the "Trade Forum – Navigating Global Market
Dynamics for a Sustainable Future in the Iron & Steel Industry" at DoubleTree by Hilton
Shah Alam I-City. The Trade Forum was held to provide a comprehensive exploration of
the complex dynamics impacting iron & steel industry, with a keen focus onsustainability. YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry(MITI) made the keynote address to kick start the Forum.
by Tracy Lee

https://malaysiasteelinstitute.com/

05

CSR Event: Ti-Ratana Welfare Society Malaysia
The Malaysia Steel Institute (MSI) initiated a corporate social responsibility (CSR) activity
at Petrosains, The Discovery Centre in KLCC, Kuala Lumpur. Mr. Leon Lai, Ms. Syakirah, Ms.
Asmalyn, and Syafiq Daniel were responsible for managing the CSR activities.
A group of thirty (30) children, accompanied by three (3) teachers from Ti-Ratana Welfare
Society Malaysia, had the opportunity to explore the fascinating world of science atPetrosains, the Discovery Centre. The purpose of the visit was to expose the children to andignite their interest in science, technology, and innovation.
MSI extends heartfelt thanks to Wei Dat Steel Wire Sdn. Bhd. for their generous sponsorshipof the event, covering expenses such as Petrosains tickets, meals, transportation, anddelightful goodies for the 30 children. Additionally, gratitude is expressed to MSI members,
Kiswire Cord Sdn. Bhd., for their generous contribution to the CSR event, making the total
contribution for this event RM8,000. Recognition is also given to Perusahaan Sadur Timah
Malaysia (PERSTIMA) Berhad for donating goods and Artisense Creative for sponsoring themock cheque.
MSI remains dedicated to making a positive impact on the lives of the less privileged andanticipates future educational events aligning with Malaysia’s focus on science,technology, and innovation.
by Syafiq Daniel

https://malaysiasteelinstitute.com/

06

Parlimen Bagi Sesi Perbahasan Peringkat Jawatankuasa
Parlimen Ke Atas Rang Undang-Undang Perbekalan 2024 MITIMSI contributed in preparation for Sesi Perbahasan Peringkat Jawatankuasa Parlimen ke
atas Rang Undang-Undang Perbekalan 2024 di Dewan Rakyat on 14 November 2023 toprovide justification in defense on the budget allocation for RMK 12 Iron and Steel Industry
Training Programme 2024.
by Leon Lai

Malaysia Aerospace
2023 (MyAERO'23)

SummitThe
National
AerospaceIndustry
Corporation Malaysia, NAICO Malaysia,organised the launching of Malaysia
Aerospace Summit 2023 (MyAERO’23) on 15
November 2023, at the Kuala Lumpur
Convention Centre. The event's theme,"Bridging Digital Frontiers for Sustainable
Skies," aimed to showcase the progress of
the aerospace ecosystem and thecapabilities of Malaysia's aerospaceindustry players. MyAERO'23 represents acollaborative
promotional
initiative
involving various government agencies
and the private sector, working towards
positioning Malaysia as the hub of theaerospace industry in the Asia Pacificregion. This aligns with the goals outlined in
the Malaysian Aerospace Industry Master
Plan 2030.
by Syafiq Daniel

https://malaysiasteelinstitute.com/

07

ICW 2023
The International Construction Week (ICW) has been the premier annual event for theconstruction industry in Malaysia for more than 20 years. This year ICW 2023 is the 22nd edition
with the theme “Leading ESG in Construction” held at MITEC, Kuala Lumpur from 15 – 17November 2023. During the event, the chairman of CIDB Malaysia, Yusuf Abd Wahab,
announced that RM3.09 million in sales through its International Sourcing Programme resulted
from CIDB's collaboration with the Malaysia External Trade Development Corporation(MATRADE). This collaboration involved engaging with buyers from various countries, including
Cambodia, Vietnam, the Philippines, Thailand, Hong Kong, Kazakhstan, and Germany.
Running from November 14 to 17, ICW 2023 revolves around the theme "Leading ESG in
Construction" and co-organized by CIDB Malaysia and QUBE Integrated Malaysia Sdn Bhd. In
addition to the BuildXpo exhibition, the event hosted conferences and seminars focusing on thelatest practices in the construction industry.
Simultaneously, at the opening ceremony, CIDB Malaysia was awarded the ISO/IEC 17024:2012
certification by the International Organization for Standardization and the International
Electrotechnical Commission. This certification, granted by the Department of Standards,
pertains to three construction trades: welding, non-destructive testing, and blasting andpainting.
During the same event, Malaysia's Minister of Works, Datuk Seri Alexander Nanta Linggi, unveiled
the CIDB Form of Contract for Building Works 2022 edition. This updated edition, replacing the2000 edition, introduces the concept of collaborative contracts. These contractual agreements
among project participants in construction projects aim to foster collaboration, cooperationand shared risk and reward.
by Syakirah Ibrahim

Image Credit: the edge malaysia
https://malaysiasteelinstitute.com/

08

CSR Event: Malaysia Federation of The Deaf
On 20 November 2023, in commemoration of Children's Day 2023, the Malaysia Steel Institute(MSI) partnered with the Malaysia Federation of the Deaf (MFD) to bring joy to the children at
Taska & Tadika Istika Jaya OKU Pendengaran. This event was made possible through thegenerous financial support from Lion Group. Ms. Tracy Lee, Ms. Juliana, Ms. Asmalyn,
Muhammad Amier, and Syafiq Daniel were entrusted with overseeing the CSR activities.
The children participated in a variety of mini-games, including puzzles, mini-bowling, bean bag
throwing, and the loop game, all designed to create joyful moments for the 27 children who
took part in the activities. MSI expresses sincere gratitude, especially to Parkson Credit Sdn. Bhd.
(Under Lion Group), for their generous sponsorship, covering goodies bags for children andTexas Chicken meals. Special acknowledgment and recognition are extended to Lion-ParksonFoundation, CSC Steel Sdn. Bhd., and P.P Steel Sdn. Bhd. for their invaluable support. The
combined contribution from these organizations totaled an impressive RM6,150. Credit is also
given to Artisense Creative for sponsoring the mock cheque.
This collaborative effort reflects the shared values of MSI and its esteemed members increating meaningful experiences for these children. The Children's Day celebration also serves
as a reminder of the responsibility we bear in contributing to the well-being of disadvantaged
children in our society.
by Syafiq Daniel

https://malaysiasteelinstitute.com/

09Majlis Networking Deepavali 2023
On 22 November 2023, the Ministry of Investment, Tradeand Industry (MITI) hosted the Majlis Networking
Deepavali 2023 at Dewan Perdana, MITI Tower. The
gathering included the presence of the Minister of MITI,YAB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz,
YBhg. Dato' Hairil Yahri Yaacob, the Secretary General of
MITI, head of agencies, top management, MITI officers,
and representatives from various agencies.
The primary aim of this event was to celebrate the richcultural diversity within the MITI community including the
Agencies. The occasion served as a platform to foster
unity and understanding among MITI citizens, promoting
a sense of camaraderie. The event was further enhancedwith captivating performances, adding vibrancy andexcitement to the celebration of Deepavali.

by Syafiq Daniel

Programme MITI Tech Day 2023
On 27 November 2023, the Information Management
Division (BPM), Ministry of Investment, Trade andIndustry (MITI) in collaboration with the company TM
Sdn. Bhd. held the MITI Tech Day 2023 Programme at
TM Digital Academy, MMU Campus, Cyberjaya
Selangor.
The main objective of this program is to foster aspirit of cooperation and knowledge sharing in thefield of the latest digital technology, in line with thegoals of the National Industrial Master Plan (NIMP)
2030. The event attended by almost 60
representatives from MITI and agencies, focused ona discussion platform to discuss key topics such as
5G, cyber security, and solutions smart in line with
NIMP 2030.
by Syakirah Ibrahim

Visit to Malaysia Steel Works (MASTEEL)
On 30 November 2023, MSI staff, Ms. Juliana, and Mr.
Daniel, together with representatives from MITI and
MIDA, visited Malaysia Steel Works (MASTEEL) locatedat Bukit Raja. The primary objective of this visit was togain insights into the steel manufacturing process,specifically understanding the distinctions between
furnaces and the role of ladle furnaces in the iron andsteel industry. Mr. Tan Ka Yeong, Vice President at
MASTEEL, led and guided the visit, providing valuable
information and sharing expertise during the
exploration of these industrial processes.
by Syafiq Daniel

https://malaysiasteelinstitute.com/

10Jawatankuasa Bersama Industri Melaka 2023
On 23th November 2023, Mesyuarat Jawatankuasa Bersama Penyelarasan Industri (JBI) Melaka
organized by the Ministry of Investment, Trade and Industry (MITI) in collaboration with the Melaka State
Government was held. The aim is to strengthen the performance of international and domestic trade,while monitoring the development of industry in the state.
The close cooperation between MITI and the Melaka State Government is the main focal point, where
both parties came together to ensure that government policies and initiatives are well coordinated at
the state level. This move aims to empower Malaysia as a preferred investment destination for new
high-quality and high-impact investors. At the meeting, critical matters related to the economic
development, investment, and competitiveness of Melaka's industry were discussed.
by Leon Lai

https://malaysiasteelinstitute.com/
https://malaysiasteelinstitute.com/

11Briefing RMK-12 Extensive Training Programme (11th Batch)
On 8 November 2023, the 11th batch of the RMK-12
Iron And Steel Industry Training Programme Extensive began with 18 participants. The program,spanning 15 education days, is guided by a skilled
instructor who provides virtual guidance, ensuring
participants grasp the intricacies of the industry.
This training is a valuable opportunity fornewcomers, offering both theoretical and practicalinsights to help them excel in their roles. Seen as a
crucial step in developing a skilled workforce, theprogram contributes to the ongoing growth andsuccess of the Iron and Steel Industry.
by Leon Lai

Briefing RMK-12 Extensive Training Programme (10th Batch)
On 13 November 2023, the RMK-12
Iron and Steel Industry Training
Programme – Extensive kick started
its 10th batch of twenty-two (22)participants aimed at acquiring
essential knowledge for their roles in
the industry. Facilitated by a wellexperienced
instructor,
theprogramme
wasconducted
virtually, spanning a comprehensive
curriculum
deliveredover15
education days. This programme
underscores its commitment toequipping new workers with theskills necessary for success in theIron and Steel Industry.
by Leon Lai

https://malaysiasteelinstitute.com/

12Briefing RMK-12 Upskilling Training Programme (7th Batch)
On 15 November 2023, the seventh batch of the RMK-12 Iron and Steel Industry Training Program Upskilling of Specific Technical Knowledge Training began at Malaysia Steel Works (KL) Berhad. Tencurrent employees of the company participated in the training to gain knowledge about the Rolling Mill
Process and Product Quality. The course, which lasted for 10 days, was led by a skilled international
trainer with the help of a local instructor.
by Leon Lai

Customised Training: Excel Training
On 18 November 2023, MSI hosted a virtual training session on Essential Excel, offering participants acomprehensive understanding of fundamental Excel functions and capabilities. The online training
aimed to enhance the skills of participants in leveraging Excel for various tasks, from data organization
to complex calculations. Attended by few companies seeking to boost their proficiency in spreadsheet
management, the Essential Excel training provided practical insights and hands-on exercises toempower participants with valuable skills for efficient data analysis. The interactive online format
facilitated active participation and knowledge transfer, ensuring that participants could immediately
apply what they learned in their professional roles. This virtual training initiative contributes to enhancing
workplace productivity and fostering a culture of proficiency in utilizing essential tools for data-driven
decision-making.
by Leon Lai

https://malaysiasteelinstitute.com/

13

Customised Training: Problem Solving by Using QC Tools
On 25 November 2023, MSI organized a Problem
Solving training session by Using QC Tools training at
Anshin Steel Service Centre in Shah Alam. The
training engaged 25 eager participants wanting toenhance their problem-solving skills through theapplication of Quality Control (QC) tools. This training
programme is tailored to empower individuals withpractical methodologies for identifying, analyzing,
and resolving issues within operational processes.
Participants delve into various QC tools, such as
Pareto charts, fishbone diagrams, and scatter plots,
acquiring the know-how to make informed decisions
and enhance overall efficiency. The programmeemphasizes the importance of systematic problemsolving
approaches
todrive
continuous
improvement and foster a proactive problem-solving
culture.
by Leon Lai

Customised Training: Awareness & Internal Audit Training(ISO 9001:2015)
On 28 November 2023, MSI coordinated an Awareness & Internal Audit (ISO 9001:2015) training at
Mycron Steel CRC Sdn. Bhd. in Shah Alam. The training involved 23 individuals that were keen in
enhancing their understanding of the ISO 9001:2015 standard. This training initiative is designed to instillawareness and proficiency in internal auditing processes as per ISO 9001:2015 requirements.
Participants gain valuable insights into the principles and practices necessary for maintaining quality
management systems, emphasizing the significance of internal audits in ensuring compliance andcontinuous improvement. The programme equips participants with the skills needed to conduct
effective internal audits, promoting a culture of quality and excellence within the organization.
by Leon Lai

https://malaysiasteelinstitute.com/

14

Steel FactsDID YOU
KNOW?

Fun fact aboutsteel
Source: World Steel Association Website

https://malaysiasteelinstitute.com/

15

GLOBAL
STEEL

NEWS

NIPPON STEEL’S HARVARD-EDUCATED PRESIDENTEXPLAINS HIS $14 BILLION DEAL FOR U.S. STEEL: IT’S
ALL ABOUT CHINA AND LEADING THE ’FREECOMPETITION WORLD’BY LIONEL LIM
20 DECEMBER 2023
SOURCE: HTTPS://FINANCE.YAHOO.COM/NEWS/NIPPON-STEEL-HARVARD-EDUCATED-PRESIDENT090716454.HTML

NipponSteelpresident
Eiji
Hashimoto is casting his decision to
buy U.S. Steel for over $14 billion ingeopolitical terms. The deal is set totransform the metals industry,creating a new steelmaking giant.
This new company would dominate
the sector “excluding China, in thefree-competition
world,”the
Harvard-educated Hashimoto said,
according to the Wall Street
Journal.
China currently dominates the steel industry. Six of the world’s top 10 steel producers are from China,
with the state-owned Baowu Group leading the pack, according to data from the World Steel
Association. Nippon Steel, currently ranked fourth, would rise to third place after acquiring U.S. Steel.
(ArcelorMittal, formed in 2006 from the merger of European company Arcelor and Indian steelmaker
Mittal Steel, is the world’s second largest producer.)
Nippon Steel is paying a hefty premium for U.S. Steel. The Japanese company is offering to pay $55 ashare, significantly above U.S. Steel’s price of $39.55 at Friday’s market close. (Shares have jumped
22% since then, following Nippon Steel’s announcement.)
Despite that, Hashimoto has defended the price tag, saying the deal has “sufficient economic
rationality” on Tuesday. “We want to complete a global network for a new era in the industry,” hesaid.
Several other companies had considered buying U.S. Steel as well. Cleveland-Cliffs, another U.S.based steelmaker, offered to buy U.S. Steel at $35 a share earlier this year. (U.S. Steel rebuffed theoffer.) ArcelorMittal and Canada’s Stelco were also considering offers for U.S. Steel.

https://malaysiasteelinstitute.com/

16

U.S. lawmakers, however, don’t think Hashimoto’s decision to buy U.S. Steel is good for American
security. U.S. Sen. John Fetterman (D-Pa.) complained that it was “outrageous that [U.S. Steel] soldthemselves to a foreign nation and … company” in a post on X, formerly Twitter. Fellow Sen. J.D. Vance(R-Ohio) also opposes the deal, alleging that “a critical piece of America’s defense industry was
auctioned off to foreigners for cash.” Fetterman, Vance, and Sen. Sherrod Brown (D-Ohio), who also
opposes the deal, all represent battleground states in next year’s U.S. elections.
The United Steelworkers union is also against the deal. The union’s president, David McCall, said in astatement that neither U.S. Steel nor Nippon Steel contacted the union about the deal, which violates
an agreement requiring U.S. Steel to notify the union of any changes in control. That adds morepolitical complexity to the deal, as President Joe Biden seeks to shore up support from the U.S. labor
movement ahead of the election.
The deal still needs to be approved by the Committee on Foreign Investment in the United States(CFIUS).
Hashimoto’s tenure at Nippon Steel shows an executive with a tough negotiating style. He spent overfour decades at Nippon Steel before becoming president in April 2019. At the time, the company
faced increased competition from Chinese steelmakers and low sales margins. Hashimoto
successfully leaned on customers to pay higher prices, and even tried suing Toyota Motor in 2021 forpatent infringement. Nippon Steel dropped its suit in November.
In 2019, the year Hashimoto became president, Nippon Steel lost $3.9 billion. Last year, the company
generated $5.1 billion in profit.
This story was originally featured on Fortune.com

https://malaysiasteelinstitute.com/

17

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

https://malaysiasteelinstitute.com/

18

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

https://malaysiasteelinstitute.com/

Thank
You
Because, we're here to help
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.

Address

Level 26, Menara MITI,
No. 7 Jalan Sultan Haji Ahmad Shah,
50480 Kuala Lumpur

Telephone

03-6207 1030 (Syafiq Daniel)
03-6208 4657 (Syakirah Ibrahim)

EmailSyafiq Daniel: daniel@malaysiasteelinstitute.com
Syakirah Ibrahim: syakirah@malaysiasteelinstitute.com

Websitewww.malaysiasteelinstitute.com