MALAYSIA STEELINSTITUTE

2023

JANUARY

THE STEEL NOTICEBOARD
30 January 2023

https://malaysiasteelinstitute.com/

Average DomesticPrice (per MT)

Average Domestic Price (per MT)
01 Billet

02 Rebar

03 Steel Wire Rod

RM2,600 - RM2,614

RM2,746 - RM2,830

RM2775 - RM2930

Average International Price (per MT)
04 Scrap Iron

RM1,601 - RM1,781

05 Iron Ore

RM403 - RM487

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01

Trade Performance
Malaysia's Trade
Performance
January 2023
Malaysia’s iron and steel total trade value in January 2023 wasrecorded at RM3.9 billion, contracted by 37.1 percent comparedto RM6.2 billion in January 2022. However, the trade balance
has improved from a trade deficit of RM251.2 billion in January2022 to a trade surplus of RM162.5 million in January 2023.
Malaysia’s iron & steel export in January 2023 declined by 33.3
percent to RM2.0 billion from RM3.0 billion in January 2022.
Three main export destinations in January 2023 were Hong
Kong, Indonesia and Singapore accounting for 16.8 percent, 9.9
percent and 8.5 percent of the total export value of the month,respectively.
Malaysia’s iron & steel import in January 2023 down by 40.6
percent to RM1.9 billion in January 2023 from RM3.2 billion inJanuary 2022. Imports from China, Japan and Taiwan
accounted for the top three (3) spots representing 24.7
percent, 15.0 percent and 14.1 percent of the total import value
respectively.
by Juliana Ahmad

https://malaysiasteelinstitute.com/

02Malaysia Trade Performanceof Iron & Steel Industry
Month Trade Value
January 2023: RM3.9 billion

37.1 % M-o-M change

January 2022: RM6.2 billion

Month Balance of Trade01 RM162.5 million
January 2023:
Trade Deficit

164.7 % M-o-M change

January 2022: RM251.2 million
Trade Deficit

Month
02 Export
January 2023: RM2.0 billion

10.0% M-o-M change

January 2022: RM3.0 billion

Month ImportJanuary 2023: RM1.9 billion
January 2022: RM3.2 billion

40.6 % M-o-M change

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03

GMTN Reunion Lunch
Malaysia Steel Institute (MSI) was invited to attend GMTN Reunion Lunch
hosted by Messe Worldwide Sdn Bhd at The Chow Kit Hotel in Kuala Lumpur
on 9th January 2023. The invitation was extended to other government
agencies, relevant associations, and key players in the industry for
networking and idea exchange. There are four major trade fairs will be held
under one roof from 12 - 16 June 2023 at Düsseldorf, Germany as below:i)
ii)
iii)
iv)

GIFA - Foundry machinery, castings and foundry technology
METEC - Metallurgy, steel casting and steel production with congresses
THERMPROCESS - Thermo process technology and heat engineering
NEWCAST - Highly innovative casting solutions

The visitors were from the construction industry, foundries, iron, steel andnonferrous metal industry, mechanical engineering plant construction andvehicle supplier industry. The hot topics on ecoMetals, E-Mobility lightweight
construction, metals transformation, and new technologies such as additive
manufacturing and digitalisation has been shared and discussed at theevent.
Overall, the GMTN Reunion Lunch
presents
anexcellent
opportunity for MSI to stay upto-datewithindustry
developments and trends, build
relationships
withrelevant
stakeholders, and for the iron &Steel industry that would like totake part in the Germany trade
fairforpotential
business
opportunities.
by Lee Hooi Lai
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MITI's Strategic Communications Unit Meeting with Head ofAgencies' Corporate Communications
The communications landscape is constantly evolving, and corporate
communications teams will need to stay up to date with the new technologies
and platforms in order to effectively communicate with their audiences. As akickstart of 2023, MITI Strategic Communications Unit has organised ameeting with the Head of Agencies’ Corporate Communications on 10January 2023. Some key points that have been discussed are Agency’s Top 5Highlights, Communication Budget & Social Media Plan for 2023. Thisdiscussion gives a great idea for all agencies to brainstorm on what and how
to come out with the best communication within and across agencies despite
all the challenges.
by Syakirah Ibrahim

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05

Steel FactsDID YOU
KNOW?

Fun fact aboutsteel

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07

GLOBALSTEEL

NEWSPOSCO named ‘The World’s Most
Competitive
Steelmaker’for13
consecutive years
09 JANUARY 2023

SCOURCE:HTTPS://NEWSROOM.POSCO.COM/EN/POSCO-NAMED-THEWORLDS-MOST-COMPETITIVE-STEELMAKER-FOR-13-CONSECUTIVE-YEARS/WSD CEO Philipp Englin highly praised POSCO’s efforts to jointly
develop hydrogen reduction steel technology, saying “POSCO’sHydrogen Iron & Steel Making Forum (HyIS) has become the focal
point for carbon neutrality by drawing cooperation at the steel
industry value chain level,” and said, “POSCO’s $40 billion (US dollar)
investment in Australia’s eco-friendly steel raw materials andhydrogen has also led to a positive evaluation of POSCO’s carbon
neutral realization and growth potential.”
He added that POSCO’s unique ability to operate steelworks,
continuous profit generation, and financial soundness were cited asreasons for achieving the No. 1 position for 13 consecutive years.
This year, 35 steelmakers were subject to evaluation, and this ranking
serves as an important reference index for determining themanagement performance and future development potential of major
global steelmakers.
Meanwhile, POSCO was the first Korean steelmaker to be selected as
the World Steel Association’s Sustainability Champion in April and isleading the global steel industry to be carbon neutral by jointly
developing hydrogen-reduced steel technology and forming a ‘HyREXR&D Partnership’.
CEO Jeong-woo Choi was inaugurated as the chairman of the World
Steel Association and also received awards in the ‘TechnicalInnovation’ and ‘Sustainability’ categories at the 2023 Steelie Awardsin October.

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08In addition, POSCO was recognized as the world’s best steelmaker bywinning the ‘Best Steelmaker’ award following in 2018 and 2020 at the10th Global Metals Awards hosted by S&P Global Commodity Insights.
CEO Jeong-woo Choi was selected as the ‘CEO of the Year’ with themost outstanding performance and leadership in the metal andmining industries.

Date//Time//Year

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 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,
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Comms.MSIOur Super Team

Syakirah Ibrahim

Assistant Manager, IRL

Jarrod Lim

Chief Executive Officer

Syafiq Daniel
Executive, IRL

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January 2023

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EmailSyafiq Daniel: daniel@malaysiasteelinstitute.com
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