THE STEELNOTICEBOARD
November 2022

Average Domestic Price (per MT)
BILLETREBARSTEEL WIRE ROD

RM2,475 – RM2,540

RM2,606 – RM2,766

RM2,720 – RM2,868

Average International Price (per MT)
SCRAP

IRON ORE

RM1,601 – RM1,648

RM360 – RM381

Trade Performance
Malaysia’s Trade Performance, January-November 2022
Malaysia’s Iron and Steel total trade value in November 2022 contracted by 16.7 percent to RM5.0 billion
compared to RM6.0 billion in November 2021 for the same period. Trade balance has improved to trade surplusof RM271.4 million from trade surplus of RM4.2 million for the same comparison period.
Malaysia’s iron & steel export in November 2022 down by 10.0 percent to RM2.7 billion from RM3.0 billion inNovember 2021. Three main export destinations in November 2022 were Hong Kong, Indonesia and Singapore
accounting for 22.1, 13.3 and 10.6 percent of the total export value respectively.
Malaysia’s iron & steel import in November 2022 declined by 20.0 percent from RM3.0 billion in November 2021
to RM2.4 billion in November 2022. Imports from China, Japan and Taiwan accounted for the top three (3) spots
representing 25.0, 19.2 and 11.7 percent of the total import value respectively.
From January to November 2022, the total trade value of the Iron and Steel products stood at RM62.0 billion in
2022 compared to RM56.0 billion in the same period in 2021, an increase by 10.7 percent. Further, the tradebalance improved from a trade deficit of RM3.6 billion in 2021 to a trade deficit of RM126.6 million in 2022
during the same period of comparison.

Malaysia Trade Performance of Iron & Steel Industry
Month Trade Value
November 2022: RM5.0billion

16.7 % M-o-M change

November 2021: RM6.0billion

November 2022: RM271.4million
Trade Surplus

Month Balance ofTrade
6361.9 % M-o-M change

November 2021: RM4.2million
Trade Surplus

Month Export
November 2022: RM2.7billion

10.0 % M-o-M change

November 2021: RM3.0billion

Month Import
November 2022: RM2.4billion

20.0 % M-o-M change

November 2021: RM3.0billion

YTD Trade Value
Jan - Nov 2022: RM62.0billion

10.7 % Y-o-Y change

Jan - Nov 2021: RM56.0billion

Jan – Nov 2022:(RM126.6million)
Trade Deficit
Jan - Nov 2021: (RM3.6billion)
Trade Deficit

YTD Balance of Trade
96.5 % Y-o-Y change

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MSI WITH YOU
Working Lunch with MITI Top Managementand Agency
On 2nd November 2022, Mr. Jarrod Lim, CEO of MSI, attended
the working lunch at the Kampachi EQ, Equatorial Plaza, Kuala
Lumpur, at the invitation of the Senior Minister and Minister ofInternational Trade and Industry (MITI). This working lunch was
also attended by Datuk Bahria Mohd Tamil, Deputy Secretary
General (Investment) of MITI, Directors of MITI and Heads ofAgencies under MITI.

Majlis Apresiasi Menteri Kanan dan Menteri Perdagangan Antarabangsa danIndustri
On 2nd November 2022, an appreciation session with YB Dato' Seri Mohamed Azmin Ali, Senior Minister andMinister of International Trade and Industry (MITI), was held at the MITI Tower. This ceremony was held toappreciate his services and contributions throughout his leadership for the people of MITI, Agency and country.
YB Dato’ Seri Mohamed Azmin Ali has served at MITI since 10 March 2020 until November 2022.

3BMDAM 44th Annual Dinner
On 3rd November 2022, Building Materials Distributors Association of Malaysia (BMDAM) held its 44th annual
dinner at the One World Hotel. Mr. Jarrod Lim, CEO of MSI, grace the occasion at BMDAM’s invitation.
participated in the dinner. The Building Materials Distributors Association of Malaysia (BMDAM) was establishedin 1976 and has been recognized as the national association for companies engaging in the business of supply
and distribution of locally manufactured and imported building materials.

Forum Bersama Pengerusi Jawatankuasa Pembangunan Standard (SDC)
This forum was attended by MSI on 7th November 2022 via FB Live to discuss the STANDARDS MALAYSIA delivery
services in managing standardisation activities and the direction of standardisation activities in Malaysia. Amongthe objectives of this forum are:a) Get feedback on the standard development process managed by the STANDARDS MALAYSIA;b) Provide information on the latest developments in standardisation activities, existing policies, among others;andc) discuss on how to improve standardization activities.
The concerns and feedback via the discussion, such as funding and recognition were noted by Standards Malaysiafor its internal discussion and for improvement.

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Majlis Pembukaan Minggu Pembinaan Antarabangsa (ICW) 2022
With the theme of “Constructing a New Future”, CIDB organised
the International Construction Week (ICW) 2022 from 7-11
November 2022 at Berjaya Times Square Hotel.
The ICW is a platform for the construction industry players inMalaysia and around the region to showcase, learn and explore
the latest trends, developments and technologies surrounding theconstruction industry. It is also an event to celebrate and promote
the capabilities of the construction industry, as well as provide aplatform for the players to network and share experiences.
The launching ceremony on 8 November 2022 was officiated byYBhg. Dato' Wira Wan Ahmad Uzir bin Hj Wan Sulaiman, SecretaryGeneral, Ministry of Works Malaysia.

Majlis Networking Deepavali MITI
dan Agensi 2022
On 10th November 2022 MITI & Agencies
celebrated Majlis Networking Deepavali by Datuk
Lokman Hakim Ali, Secretary General of MITI at
MITI Tower. This event was held to celebrate theIndian people's festival as well as hold a
networking session between MITI's officers andagencies’ officers. The event combined food andperformances in line with the Deepavali theme
and was attended by officials from MITI and agencies.

52022 SEAISI Steel Mega Event & Expo
MSI attended the 2022 SEAISI Steel Mega Event & Expo at Sunway Convention Centre on 14th November 2022.
A panel of experts gathered to discuss the future of Iron and Steel industry in the region. The conference wasofficially launched by YBhg. Tan Sri Dato' Soh Thian Lai, President of Federation of Malaysian Manufacturers(FMM). The event focus on 3 three key areas i.e., Technology, Sustainability, Construction to drive thedevelopment of steel industry by introduction of advanced technology to improve productivity, to reduce
production costs and to develop new quality products within the ASEAN region.

Malaysia Iron & Steel Industry Federation (MISIF): 41st Anniversary Dinner
On 14th November 2022, MSI attended the dinner jointly hosted by MISIF and SEAISI. The dinner was officiatedby YBhg. Dato’ Sri Lokman Hakim Ali, Secretary General of Ministry of International Trade and Industry (MITI).
The dinner hosted more than 1,000 participants provided theopportunity for a networking platform for Government
representatives, iron and steel industry players, leaders fromASEAN and around the world to interact and exchange ideas.

6MSI BRIDGING GAPS
Forging ESG for the Future of Your Business-Capture, Analyse, Rate and Trade
On 10th November 2022, Malaysia SteelInstitute (MSI) presented a webinar on
forging ESG for the future of your business—
capture, analyse, rate, and trade. In thiswebinar, there are several speakers,
consisting of Mr. Adlan Hafiz Azhar, Directorof Penjana Eko Sdn Bhd, Mr. Promod Dass,Deputy Group CEO of Ram Sustainability, Mr.
Bo Bai, CEO of MetaVerse Green Exchange(MVGX), and Mr. Tony Wines, CEO ofTurnkey Global Asia, while the moderator is Ms. Rina Neoh who has serves as the Secretary General of ESG
Association of Malaysia. The objective of thiswebinar is to highlight the importance andbenefits of considering ESG factors in business
operations and investment decisions, the roleof stakeholders, including shareholders,
employees, customers, and communities, indriving ESG performance and others. The
number of participants in this webinar is 72
people, consisting of representatives fromministries, agencies, and industries.

7MSI TRU
RMK-12 Upskilling Training (Batch 3)
On 7th November 2022, the third batch of the RMK-12 Iron
and Steel Industry Training Program - Upskilling of SpecificTechnical Knowledge Training began at Ann Joo Steel Berhad.
A total of 10 technicians, supervisors and engineers of thecompany participated in the training to gain knowledge onthe steelmaking process and product quality. The course,which lasted for 10 days, was led by several experienced
international trainers with the support of local tutors basedon their expertise on each subject.
Note: MSI hopes other companies will also sign up for such training of their staff – it is free at no cost to the company except forthe staff to attend the training.

RMK-12 Upskilling Training (Batch 4)
On 29 November 2022, the fourth batch of the RMK-12 Iron andSteel Industry Training Program - Upskilling of Specific TechnicalKnowledge Training commenced at Malaysia Steel Works (KL)
Bhd. in Klang. Ten (10) existing employees of the company took
part in the training to learn more about the steelmaking processand product quality. The 10 days training was delivered by aninternational trainer and supported by a tutor in translation anddemonstration.
Note: This training is at no cost to the company. Any company interested to get more details kindly contact: Mr. Leo @Tel: 03-6208
4653 or email: leon@malaysiasteelinstitute.com

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STEEL FACTS

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STEEL NEWS1. SOGDC, Esteel Sabah Seal Land Lease Agreement for US4.4 bil. Green Steel Project
Date: 30 November 2022
[Source:https://www.theedgemarkets.com/article/sogdc-esteel-sabah-seal-land-lease-agreementus44-bil-green-steel-project]
KOTA KINABALU (Nov 30): Sabah Oil and Gas Development Corp Sdn Bhd (SOGDC) has signed a landlease agreement with Esteel Enterprise Sabah Sdn Bhd (Esteel Sabah) for a green steel project at
Sipitang Oil and Gas Industrial Park (SOGIP).
SOGDC chairman Datuk Seri Abdul Rahman Dahlan said the green steel project is a three-phase projectwith a total investment value of US$4.39 billion (RM19.59 billion), and the first phase of constructionis scheduled to kick off in the fourth quarter of next year and expected to be completed in 2025.
"This is the biggest investment ever witnessed in Sabah and will have significant spillover effects forthe state's economy, especially its steel industry. It will generate jobs and Sipitang will benefit fromit," he told a press conference after the signing ceremony.
The signing ceremony was held at the mini auditorium of the Sabah State Assembly here andwitnessed by Chief Minister Datuk Seri Hajiji Noor.
The agreement was signed by Abdul Rahman Dahlan and SOGDC managing director and chief
executive officer Datuk Harun Ismail while Esteel Sabah was represented by its MD, Mr. Xu Yihang anddirector Mr. Eng Shao Wei.
Meanwhile, in a press statement, SOGDC said about 10,000 to 15,000 jobs will be created during theconstruction period.
The project will involve the whole green steel industry chain, which includes iron ore concentration,
palletising, direct reduced iron, steelmaking, steel rolling, and high-end steel processing, it said.
The plant uses natural gas as a reducing agent instead of coke and coal, which reduces carbon emission
by 70% and is low carbon, efficient as well as environmentally friendly, according to the statement.
For the first phase of the project, the investor is seeking to construct an integrated green steel
industry, which will occupy 446 acres of land inside SOGIP.

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2. China Drags Down Global Steel Consumption Rate Since 2020
Date: December 2022
[Source:https://www.linkedin.com/posts/steeldataturkey_china-drags-down-global-steel-consumption-activity6989647557958250496-Yafl?utm_source=share&utm_medium=member_android]
China's steel consumption peaked to 1 billion 6 million tons in 2020 and share of China in total global
steel consumption reached 56.4%.
In 2020 China consumed 227 million tons more steel than the total of all other countries of the world.
After 2020, China's steel consumption started to drop and consumption of the world excluding China
showed growth trend.
As a result of that, according to the latest estimate of Worldsteel 2022, while China will consume only
31 million tons more steel than the total of all other countries and the share of China will drop to50.9%.
In 2023, China is expected to consume only 13 million tons more steel than all other parts of the worldand share will decline to 50.4%.

11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 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.
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www.malaysiasteelinstitute.com
MALAYSIA STEEL INSTITUTE
Level 26, Menara MITI
No. 7, Jalan Sultan Haji Ahmad Shah
50480 Kuala Lumpur

ADVERTISEMENTFor Inquiries:
T: 03-6207 1030 E: daniel@malaysiasteelinstitute.com

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