Malaysia: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Malaysia

The Malaysian hot-rolled steel products market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded a relatively flat trend pattern. Hot-rolled steel products consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Malaysia

In value terms, hot-rolled steel products production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Malaysia

In 2021, exports of flat-rolled products of iron or steel (not further worked than hot-rolled) from Malaysia rose rapidly to X tons, increasing by 11% against the previous year. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 57% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled steel products exports amounted to $X in 2021. In general, exports enjoyed a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Singapore (X tons) and Indonesia (X tons) were the main destinations of hot-rolled steel products exports from Malaysia, with a combined 61% share of total exports. The United Arab Emirates, China, Yemen, the Netherlands, Thailand, India, Canada, the Philippines, Bangladesh and Vietnam lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +265.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Malaysia were Singapore ($X), Taiwan (Chinese) ($X) and Indonesia ($X), with a combined 49% share of total exports. These countries were followed by Thailand, China, the United Arab Emirates, the Netherlands, India, Yemen, Vietnam, the Philippines, Canada and Bangladesh, which together accounted for a further 31%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +233.4%, recorded the highest rates of growth with regard to 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 2021, the average hot-rolled steel products export price amounted to $X per ton, falling by -7.2% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 13%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Hot-Rolled Steel Products Imports

Imports into Malaysia

In 2021, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were imported into Malaysia; remaining relatively unchanged against the previous year. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.9% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 25%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

Taiwan (Chinese) (X tons), Vietnam (X tons) and Japan (X tons) were the main suppliers of hot-rolled steel products imports to Malaysia, together comprising 58% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +80.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products suppliers to Malaysia were Indonesia ($X), Taiwan (Chinese) ($X) and Vietnam ($X), with a combined 60% share of total imports.

Vietnam, with a CAGR of +73.0%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, the average hot-rolled steel products import price amounted to $X per ton, picking up by 53% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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