THE STEELNOTICEBOARD
December 2022

Average Domestic Price (per MT)
BILLETREBARSTEEL WIRE ROD

RM2,525 – RM2,530

RM2,665 – RM2,811

RM2,710 – RM2,960

Average International Price (per MT)
SCRAP

IRON ORE

RM1,553 – RM1,753

RM436 – RM508

Trade Performance
Malaysia’s Trade Performance, January-December 2022
Malaysia’s Iron and Steel total trade value in December 2022 contracted by 30.4 percent to RM4.8 billion
compared to RM6.9 billion in December 2021 for the same period. Trade balance has improved to trade surplusof RM40.3 million from trade deficit of RM446.5 million for the same comparison period.
Malaysia’s iron & steel export in December 2022 down by 25.0 percent to RM2.4 billion from RM3.2 billion inDecember 2021. Three main export destinations in December 2022 were Hong Kong, Singapore and USA
accounting for 22.1, 9.2 and 7.8 percent of the total export value respectively.
Malaysia’s iron & steel import in December 2022 declined by 35.1 percent from RM3.7 billion in December 2021
to RM2.4 billion in December 2022. Imports from China, Japan and Taiwan accounted for the top three (3) spots
representing 25.3, 14.1 and 13.1 percent of the total import value respectively.
From January to December 2022, the total trade value of the Iron and Steel products stood at RM66.8 billion in
2022 compared to RM62.9 billion in the same period in 2021, an increase by 6.2 percent. Further, the tradebalance improved from a trade deficit of RM4.0 billion in 2021 to a trade deficit of RM83.9 million in 2022 during
the same period of comparison.

Malaysia Trade Performance of Iron & Steel Industry
Month Trade Value
December 2022: RM4.8 billion

30.4 % M-o-M change

December 2021: RM6.9 billion

December 2022: RM40.3 million
Trade Surplus

Month Balance ofTrade
109.0 % M-o-M change

December 2021: (RM446.5 million)
Trade Deficit

Month Export
December 2022: RM2.4 billion

25.0 % M-o-M change

December 2021: RM3.2 billion

Month Import
December 2022: RM2.4 billion

35.1 % M-o-M change

December 2021: RM3.7 billion

YTD Trade Value
Jan - Dec 2022: RM66.8 billion

6.2 % Y-o-Y changeJan - Dec 2021: RM62.9 billion

Jan – Dec 2022: (RM83.9 million)
Trade Deficit
Jan - Dec 2021: (RM4.0billion)
Trade Deficit

YTD Balance of Trade
97.9 % Y-o-Y change[AUTHOR NAME]

2MSI WITH YOU
Clock in Ceremony of YB Minister of MITI
The "clock in" ceremony of YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz as the Minister ofInternational Trade and Industry was marked by a symbolic event on 3 rd December 2022. Secretary General ofMITI, Datuk Lokman Hakim Ali, and other top management from the ministry and the agencies, including Deputy
Secretary Generals and Heads of Agencies, were present to welcome the new Minister.
The employees and agencies of MITI pledged to support and work with the leadership of YB Minister to revive
the economy, attract quality investments and boost the confidence of foreign investors.

MIDA: Deepavali-Christmas Celebration 2022
On 9th December 2022, MSI joined, at MIDA’s invitation, MIDA’s Deepavali-Christmas Celebration 2022. The
event was addressed by YBhg. Datuk Wira Arham Abdul Rahman, CEO of MIDA. At this event, a variety of musicand dance performances and celebrations were featured. The event ended with with the serving of a variety of
traditional Indian food dishes.

[AUTHOR NAME]

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MSI BRIDGING GAPS
Cadangan Jalinan Kerjasama antara JPK dan Pembangunan Sumber Manusia
Berhad untuk Industri Logam di Malaysia
MSI attended the online discussion between MISIF, JPK and HRD Corp on 7th December 2022 with the objective
to optimise the use of resources. The discussions targeted sustainability of human resource development
programmes. It was also stressed on the importance and to ensure benefit to the workforce to attain skills tobecome a competitive workforce.

Courtesy Visit to Standards Malaysia
MSI paid a courtesy visit to Standards Malaysia on 19th December
2022 with the objectives to discuss on expediting the MalaysianStandards development for Certificate of Approval (CoA)
implementation on HS 7225.91, HS 7225.92 and HS 7225.99 andthe potential collaboration between MSI & Standards Malaysia in
Iron & Steel standardisation activities for the iron & steel industry.

[AUTHOR NAME]

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MSI TRU
Briefing on Training UnderRMK-12
Training Batch 14
On 2 December 2022, the 14th batch of theRMK-12 Iron and Steel Industry Training
Program - Extensive began, with 15
participants in attendance. Led by anexperience trainer, the 15-day program wasconducted virtually and enabled new workers
from various locations to gain extensive
knowledge and skills on the Iron and Steel
Industry to reduce their learning curve in the new organisation. The curriculum covered various important topics
such as steelmaking, rolling mill, quality control, safety etc. which are customised for iron and steel industry.

Melewar RCEP and CPTPP Training
On December 5, 2022, MSI conducted a training session
titled "RCEP and CPTPP Training" at Melewar Steel Tube Sdn
Bhd in Shah Alam. The training was attended by 21participants. The training focused on providing participants
with an understanding of the Regional Comprehensive
Economic Partnership (RCEP) and the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP)
and their potential impact on the steel industry. The session
included presentations and discussions on the trade
agreements and their implications for businesses operatingin the sector. Overall, the training aimed to help participantsnavigate the opportunities and challenges presented by these agreements and make informed decisions for theirorganizations.

[AUTHOR NAME]

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Courtesy Visit to Malaysia Steel Works (KL)
Bhd (MASTEEL)On December 14, 2022, MSI paid a courtesy visit toMalaysia Steel Works (KL) Bhd at Jalan Tandang in Petaling
Jaya. The visit was to observe the ongoing Upskilling ofSpecific Technical Training programme for batch 4 and at
the same time to gather feedback on previous training
sessions held at MASTEEL for the betterment of theconduct of the course. Additionally, the visit aimed todiscuss potential future trainings at their steel factory.
This visit is a testament to MSI's dedication to ensuring thesuccess of its training programs and its commitment to providing the highest-quality training services to its
partners in the steel industry. The feedback and updates gathered during the visit will be used to improve andtailor future training sessions to meet the specific needs of Malaysia Steel Works (KL) Bhd, in particular and also
the iron & steel industry in general. The visit was also to strengthen the partnership between MSI and MASTEEL.

Hazard Identification, Risk Assessment, and Risk Control (HIRARC)
On 23 December 2022, MSI conducted a training session on Hazard Identification, Risk Assessment, and RiskControl (HIRARC) at Malaysia Steel Works (KL) Bhd facility in Klang, Selangor. The training was well-attended
with a total of 23 participants within the company. The main objective of the training was to educate and raiseawareness among employees on how to identify potential hazards in the workplace, assess the risks associatedwith those hazards, and control or eliminate those risks to ensure a safe working environment. The training wasconducted by an experienced trainer who provided hands-on training and practical examples to help participants
understand the concepts better. The training also included group discussions and interactive activities thatallowed participants to share their experiences and best practices. The training was well-received by allparticipants, and many reported that they now have a better understanding of how to identify hazards andcontrol risks in the workplace. Overall, the HIRARC training was a great success and an important step in ensuring
the safety and well-being of MASTEEL’s employees.

[AUTHOR NAME]

6STEEL FACTS[AUTHOR NAME]

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STEEL NEWS
1. Steel Industry’s Story in 2022 and Beyond
Date: 27 December 2022
Source:https://www.thehindubusinessline.com/opinion/steel-industrys-story-in-2022-andbeyond/article66311198.ece
The government, by expanding the scope of items under RoDTEP to include steel, has lifted theindustry’s prospects in 2023
The Indian steel industry’s performance in 2022 is the bright spot in a gloomy world scenario spurredby inflation, looming recession, and the energy crisis in Europe. The country is currently the world’ssecond-largest producer of crude steel, with an output of 10.14 million tonnes (MT). In fact, the World
Steel Association (WSA) has also projected the sector’s growth in India at 6.1 per cent for 2022 and6.7 per cent for 2023 in its short-range outlook this week.
The latest report by SteelMint India, a steel-centric data agency, said India’s crude steel output roseby about 5 per cent to 10.34 million tonnes (MT) in November 2022. It added that the imports offinished steel almost doubled to 0.60 MT from 0.31 MT, while its exports fell 53 per cent, especiallybetween May and November. In India, the decision to impose an export tax of 15 per cent on somesteel products has also contributed to the slowdown in global demand. Had there been no export tax,
India’s crude steel production would have nearly touched 130 MT in 2022 with a much higher level ofexports.
The export tax on steel was withdrawn recently when the Centre expanded the list of items that fallunder the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to include chemicals,
pharmaceuticals, and iron and steel products. This will enhance not only the export of engineering
goods containing steel, but also boost steel consumption.
Infrastructure push
Domestic steel demand was spurred by the revival of numerous infrastructure and construction
projects which got stalled due to the pandemic.
In fact, a NITI Aayog report said by 2030, India will become the world’s production centre for green
steel and pave the way for the worldwide adoption of green steel. Technologies like DRI or sponge
iron and gas turbine generators are replacing old methods like an integrated blast furnace/basic
oxygen furnace (BF/BOF) or an electric arc furnace (EAF) that used coal to make steel.

[AUTHOR NAME]

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With an emphasis on the fourth industrial revolution, — Industry 4.0 — the steel industry would be
increasingly using artificial intelligence (AI), Industrial IoT, AR/VR, and machine learning, among
others, into everyday practices of smart manufacturing.
These development and practices, along with government policies and initiatives like Public Private
Partnership (PPP) model and National Steel Policy, will help the country increase crude steel
production capacity from 154 million tonnes per annum (MTPA) to 300 MTPA by 2030, when achieved
should make India self-reliant in steel.
The writer is Secretary General of Assocham
2. US Steel Market Expects no Impact from WTO Ruling Against Section 232 Tariffs
Date: December 2022
Source: https://lnkd.in/d6iAKTaJ
HARLOTTE, N.C., Dec. 8, 2022 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today thatit has made an equity investment in Electra, a Colorado-based start-up developing a process toproduce carbon-free iron that can be used to make steel. The company uses renewable energy torefine low-grade iron ores into high-purity iron through electrochemical and hydrometallurgicalprocesses. This material will be used in the steelmaking process to offset other high-quality metallics
that come with higher greenhouse gas emissions.
"We are excited to partner with Electra and its revolutionary process to produce emission-free iron,"said Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation. "Just as Nucorchanged the face of the steel industry 53 years ago with our first electric arc furnace, successfully
developing and scaling up a zero-carbon iron product is the type of transformative technology that
could change the steel industry as we know it."
The process developed by Electra produces Low-Temperature Iron (LTI) from commercial and lowgrade ores using zero-carbon intermittent electricity. The company electrochemically refines iron ore
into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity. That ironcan be turned into steel using existing electric arc furnaces, which account for 70% of steel productionin the U.S.
Electra's process results in zero carbon dioxide emissions. By comparison, approximately 70% of thesteel produced globally is made with blast furnace technology, an extractive process fed by iron ore,coal, and limestone that emits about two tons of carbon dioxide for every ton of steel produced.

[AUTHOR NAME]

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Using primarily recycled scrap as raw material, Nucor is already one of the cleanest steelmakers in theworld. The circular nature of remelting recycled scrap in electric arc furnaces, combined with steel'sability to be infinitely recycled, means that Nucor's steelmaking facilities generate roughly one-thirdof the carbon dioxide of extractive steelmaking plants. Its investment in Electra is one of several
investments the company is making that furthers Nucor's status as a sustainability leader and builds
on the innovation that has already led to cleaner steel production in the United States.
"We are focused on investing our capital on opportunities like these that have the potential to takeour company and the entire industry to the next level," said Doug Jellison, Nucor's Executive VicePresident of Raw Materials, and a member of Electra's Market Advisory Board. "We will continue tolook to the future for new and innovative ways to help our customers achieve their sustainabilitygoals."[AUTHOR NAME]

10ABOUT MSI
Malaysia Steel Institute (MSI) is an industry driven enterprise supported and funded by the Ministry of International 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 Iron and steel industry; to provide advisory services and to carryout commission or promote the study of scientific, technology and economic 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.
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www.malaysiasteelinstitute.com
MALAYSIA STEEL INSTITUTE
Level 26, Menara MITI
No. 7, Jalan Sultan Haji Ahmad Shah50480 Kuala Lumpur

ADVERTISEMENTFor Inquiries:
T: 03-6207 1030 E: daniel@malaysiasteelinstitute.com[AUTHOR NAME]

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