December
THE STEEL NOTICEBOARD2023

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

02 Steel Bar

03 Steel Wire Rod

RM2,508 - RM2,532

RM2,745 - RM2,810

RM2,815 - RM2,975

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

05 Iron Ore

RM1,603 - RM1,787

RM515 - RM661

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02Trade Performance
Malaysia's TradePerformance
January-December 2023
Malaysia’s iron and steel total trade value in December 2023
grew by 18.8 percent to RM5.7 billion compared to RM4.8 billion
in December 2022 for the same period. Trade balance has
widened to a deficit of RM152.7 million from a surplus of RM62.0
million for the same comparison period.
Malaysia’s iron & steel export in December 2023 improved by
16.7 percent to RM2.8 billion in 2023 from RM2.4 billion inDecember 2022. Three main export destinations in December
2023 were Hong Kong , Singapore and Indonesia accounting for
14.2, 10.8 and 5.4 percent of the total export value respectively.
Malaysia’s iron & steel import in December 2023 rose by 20.8
percent from RM2.4 billion in December 2022 to RM2.9 billion inDecember 2023. Imports from China, Japan and Taiwan
accounted for the top three (3) spots representing 30.1, 13.4
and 9.3 percent of the total import value respectively.
From January to December 2023, the total trade value of theiron and steel products stood at RM62.5 billion in 2023
compared to RM67.2 billion in the same period in 2022,
declined by 7.0 percent. Further, the trade balance has
widened from a surplus of RM418.1 million in 2022 to a deficit ofRM1,521.7 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
December 2023: RM5.7 billion

18.8% M-o-M change

December 2022: RM4.8 billion

Month Balance of Trade
December 2023: (RM152.7 million)
Trade Deficit

346.3% M-o-M change

December 2022: RM62.0 million
01
Trade Surplus

Month02 Export
December 2023: RM2.8 billion

16.7% M-o-M change

December 2022: RM2.4 billion

Month Import
December 2023: RM2.9 billion

20.8% M-o-M change

December 2022: RM2.4 billion

YTD Trade Value
Jan - Dec 2023: RM62.5 billion

7.0% Y-o-Y change

Jan - Dec 2022: RM67.2 billion

YTD Balance of Trade
Jan - Dec 2023: (RM1,521.7 million)
Trade Deficit
Jan - Dec 2022: RM418.1 million
Trade Surplus

464.0% Y-o-Y change

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Program Setahun Bersama Kerajaan
MADANI"Setahun Bersama Kerajaan MADANI" program that took place atthe Perkarangan Stadium Nasional Bukit Jalil, Kuala Lumpur, from8th until 10th December 2023.
The program aimed to promote new government policies andinitiatives, increase public awareness and understanding of thegovernment's direction, and foster trust and confidence throughperiodic reporting of achievements.
The program had three main components: the MADANI
Government Year Showcase of Achievements, citizen touchpoint
services, and people's well-being initiatives. During the event, theMalaysian Investment Development Authority (MIDA), as anagency of the Ministry of Investment, Trade and Industry (MITI),
participated in the MITI booth. Activities included direct
consultation sessions, business advisory services, and a muchanticipated Lucky Draw offering the chance to win five (5) electricvehicle (EV) motors.
by Asmalyn Mohd Ali

Memorandum of Agreement Signing Ceremony between CIDB EConstruction Services Sdn. Bhd. (CIDBEC) and BIMAGE Consulting
On 22 December 2023, Mr. Lim Keng Yow, CEO of(M) Sdn. Bhd.

MSI, was invited to the Memorandum ofAgreement signing ceremony between CIDB EConstruction Services Sdn. Bhd. (CIDBEC) andBIMAGE Consulting (M) Sdn. Bhd. at myBIM
Centre, Kuala Lumpur.
The collaboration enables CIDBEC and BIMAGE tojointly engage in the development andpromotion of the ‘Common Data Environment(CDE) – Fundamentals’ e-learning module - BIM
Training Collaboration. This collaboration aims
to provide training and proficiency certificationof CDE technology and processes using
Autodesk Construction Cloud (ACC) through
CIDBEC’s e-learning platform.
by Syafiq Daniel

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05

Briefing RMK-12 Upskilling Training Programme (8th Batch)
On 4 December 2023, the eighth batch of theRMK-12 Iron and Steel Industry Training Programcommenced at Eastern Steel Sdn. Bhd. Tenemployees enrolled in this session, aiming toenhance their expertise in the steelmaking
process and product quality. Over the course of10 days, an adept international trainer from
China Iron and Steel Research Institute (CISRI),
supported by a local instructor, guided theparticipants through the comprehensive training
program.
by Muhammad Amier

Customised Training: Internal Auditors Based on ISO 50001
Requirements

On 6 December 2023, MSI hosted a training for internal
auditors focusing on ISO 50001 requirements at Mycron SteelCRC Sdn. Bhd. in Shah Alam. The session was participated by
21 participants, eager to improve their understanding of ISO
50001 standards. This specialised training aims to enhanceawareness and proficiency in internal auditing processesaligned with ISO 50001. Participants gain valuable insights into
principles and practices for sustaining energy management
systems, emphasising the vital role of internal audits inensuring compliance and driving continuous improvement.
The program is designed to equip participants with the skills needed for effective internal audits,fostering a culture of excellence and energy efficiency.
by Muhammad Amier

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09

Briefing RMK-12 Upskilling Training Programme (9th Batch)
On 13 December 2023, the ninth batch of the RMK-12 Iron and Steel Industry Training Program—Upskillingof Specific Technical Knowledge Training commenced at Mycron Steel CRC Sdn Bhd. Ten dedicatedemployees of the company actively engaged in the training, focusing on acquiring expertise in the coldrolling process for flat products. Facilitated over a span of 10 days, the program was conducted by aproficient international trainer from China Iron and Steel Research Institute (CISRI) with support from a
local instructor, ensuring a comprehensive learning experience for the participants.
by Muhammad Amier

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Steel FactsDID YOU
KNOW?

Fun fact aboutsteel
Source: World Steel Association Website

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11

MALAYSIA
STEEL

NEWS

RM20bil green steel project complements
Sabah's green tech aspirations, says Hajiji
BY STEPHANIE LEE / THE STAR
209 JANUARY 2024
SOURCE: HTTPS://WWW.THESTAR.COM.MY/NEWS/NATION/2024/01/09/RM20BIL-GREEN-STEEL-PROJECTCOMPLIMENTS-SABAH039S-GREEN-TECH-ASPIRATIONS-SAYS-HAJIJI

KOTA KINABALU: Sabah is well on its way to a green technology revolution with the RM20bilgreen steel project at the Sipitang Oil and Gas Industrial Park (Sogip), said Datuk Seri Hajiji
Noor.
The Sabah Chief Minister said the state welcomed investments in products that harness
renewable energy, improve waste management and promote sustainable solutions.
"Investing in green technology-based products not only aligns with global sustainability
goals but also taps into a rapidly growing market for eco-friendly solutions," he said onTuesday (Jan 9) after witnessing the heads of agreement handing-over ceremony fromSabah Energy Corporation Sdn Bhd (SEC) to Esteel Enterprise Sabah Sdn Bhd for the supplyof 150 million standard cubic feet per day (mmscfd) of natural gas at Menara Kinabalu.
Under the agreement, SEC will supply 100mmscfd of natural gas to Esteel Sabah's
manufacturing plant and an additional 50mmscfd for the plant's power generation over thenext 20 years.
The Green Steel Project is a three-phase project which opted for natural gas as a reducing
agent instead of coke and coal, reducing carbon emissions by 70% and making it lowcarbon, efficient, and environmentally friendly.
Esteel Enterprise Sabah Sdn Bhd, a subsidiary of Singapore's Green Esteel Pte Ltd, signed theland-lease agreement with the Sabah Oil and Gas Development Corporation Sdn Bhd(SOGDC) to set up the manufacturing plant in Sipitang in November 2022.
Phase one of the project, with an estimated cost of US$1.93bil (RM8.97bil), is expected tocommence this year and be completed by 2026. It is anticipated to create approximately
2,795 jobs.
Representing SEC was its CEO, Datuk Adzmir Abd Rahman, while Esteel Sabah wasrepresented by managing director Xu Yihang.
Also present were state Minister of Industrial Development and Entrepreneurship Datuk
Phoong Jin Zhe, SEC chairman Datuk Annuar Ayub, Sabah state secretary Datuk Seri Safar
Untong and SOGDC Sdn Bhd CEO Datuk Harun Ismail.

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13

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 inMalaysia; 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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TRAINING PROGRAMME2023
PROGRAMME LIST:QUALITY MANAGEMENTSAFETY MANAGEMENTTRADE PRACTICESTECHNICALSOFT SKILLSENVIROMENTAL, SOCIAL AND
GOVERNANCE (ESG)
Scan for more info

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training@malaysiasteelinstitute.com

January 2023

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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

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No. 7 Jalan Sultan Haji Ahmad Shah,
50480 Kuala Lumpur

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EmailSyafiq Daniel: daniel@malaysiasteelinstitute.com
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