Report Update: Apr 17, 2024

Malaysia - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Price for Hot-Rolled Steel Bar and Rod in Malaysia - 2021

Price for Hot-Rolled Steel Bar and Rod in Malaysia (FOB) - 2021

The average export price for hot-rolled steel bars and rods stood at $610 per ton in December 2021, dropping by -6.3% against the previous month. Over the period from December 2020 to December 2021, it increased at an average monthly rate of +3.0%. The growth pace was the most rapid in March 2021 when the average export price increased by 12% against the previous month. The export price peaked at $651 per ton in November 2021, and then shrank in the following month.

Average prices varied noticeably for the major foreign markets. In December 2021, the countries with the highest prices were South Korea ($685 per ton) and the Philippines ($644 per ton), while the average price for exports to China ($600 per ton) and Belgium ($621 per ton) were amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Hot-Rolled Steel Bar and Rod in Malaysia (CIF) - 2021

In December 2021, the average import price for hot-rolled steel bars and rods amounted to $1,040 per ton, growing by 10% against the previous month. In general, import price indicated a temperate expansion from December 2020 to December 2021: its price increased at an average monthly rate of +4.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, hot-rolled steel bar and rod import price decreased by -0.2% against October 2021 indices. The import price peaked at $1,043 per ton in October 2021; afterwards, it flattened through to December 2021.

Prices varied noticeably by the country of origin: the country with the highest price was China ($1,798 per ton), while the price for Turkey ($765 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Hot-Rolled Steel Bar and Rod in Malaysia

In 2022, approx. 5M tons of hot-rolled steel bars and rods were exported from Malaysia; increasing by 17% compared with the previous year's figure. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 203%. As a result, the exports attained the peak of 5.7M tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports reached $2.4B in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 159% against the previous year. As a result, the exports attained the peak of $2.5B. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Export of Hot-Rolled Steel Bar and Rod in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	71.3	1,597	1,608	1,588	181.4%
Thailand	81.6	140	215	215	38.1%
Philippines	131	299	145	204	15.9%
South Korea	2.7	40.5	184	183	307.7%
Indonesia	38.2	57.2	10.8	38.1	-0.1%
Others	622	318	202	180	-33.9%
Total	947	2,451	2,364	2,407	36.5%

Top Export Markets for Hot-Rolled Steel Bar and Rod from Malaysia in 2022:

China (3508.3K tons)
Philippines (460.1K tons)
Thailand (402.0K tons)
South Korea (312.8K tons)
Indonesia (87.6K tons)

Imports of Hot-Rolled Steel Bar and Rod in Malaysia

In 2022, hot-rolled steel bar and rod imports into Malaysia dropped to 690K tons, declining by -7.9% against the previous year. Over the period under review, imports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 19%.

In value terms, hot-rolled steel bar and rod imports declined dramatically to $528M in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 60%. As a result, imports reached the peak of $650M, and then fell significantly in the following year.

Import of Hot-Rolled Steel Bar and Rod in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	142	93.2	190	151	2.1%
South Korea	112	77.6	95.3	80.8	-10.3%
Japan	32.3	29.3	65.0	51.9	17.1%
Vietnam	33.8	58.9	62.4	50.0	13.9%
Indonesia	3.0	2.0	57.5	45.7	147.9%
Taiwan (Chinese)	54.1	41.2	40.0	37.3	-11.7%
Singapore	32.4	24.3	42.5	35.8	3.4%
Turkey	70.2	48.4	23.4	33.7	-21.7%
Others	49.5	31.0	74.3	42.0	-5.3%
Total	530	406	650	528	-0.1%

Top Suppliers of Hot-Rolled Steel Bar and Rod to Malaysia in 2022:

China (170.5K tons)
South Korea (116.9K tons)
Vietnam (79.3K tons)
Indonesia (68.1K tons)
Turkey (67.3K tons)
Japan (63.9K tons)
Singapore (55.3K tons)
Taiwan (Chinese) (32.0K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Malaysia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
Prodcom 24106120 - Wire rod of free-cutting steel
Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
Prodcom 24106140 - Wire rod for tyre cord
Prodcom 24106190 - Other wire rod (of non-alloy steel)
Prodcom 24106210 - Hot-rolled concrete reinforcing bars
Prodcom 24106230 - Hot-rolled bars in free-cutting steels
Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
Prodcom 24106410 - Hot-rolled round bars, of stainless steel
Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
Prodcom 24106630 - Hot-rolled bars in bearing steels
Prodcom 24106640 - Hot-rolled bars in tool steels
Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

Malaysia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Malaysia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023