Malaysia: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Malaysia

The Malaysian cold-rolled steel products market reduced sharply to $X in 2022, dropping by -22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a perceptible downturn. Cold-rolled steel products consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cold-Rolled Steel Products Exports

Exports from Malaysia

After three years of decline, shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 16% to X tons in 2022. Over the period under review, exports continue to indicate a tangible increase. The pace of growth appeared the most rapid in 2013 when exports increased by 41% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports declined slightly to $X in 2022. In general, exports recorded a temperate expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 52%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), India (X tons) and Spain (X tons) were the main destinations of cold-rolled steel products exports from Malaysia, together accounting for 39% of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +121.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cold-rolled steel products exported from Malaysia were Spain ($X), India ($X) and Indonesia ($X), with a combined 28% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +116.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, waning by -16.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 41% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cold-Rolled Steel Products Imports

Imports into Malaysia

In 2022, imports of flat-rolled products of iron or steel (not further worked than cold-rolled) into Malaysia shrank to X tons, with a decrease of -10.1% against the previous year's figure. Overall, imports saw a mild contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cold-rolled steel products imports fell markedly to $X in 2022. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Japan (X tons) and Vietnam (X tons) were the main suppliers of cold-rolled steel products imports to Malaysia, together comprising 68% of total imports. Taiwan (Chinese), China, Australia and Indonesia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +19.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), South Korea ($X) and China ($X) appeared to be the largest cold-rolled steel products suppliers to Malaysia, with a combined 66% share of total imports. Taiwan (Chinese), Vietnam, Indonesia and Australia lagged somewhat behind, together comprising a further 28%.

Indonesia, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cold-rolled steel products import price amounted to $X per ton, falling by -10.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 30%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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