[SMM Malaysia Market Weekly Review] Flat and Long Steel Prices Strengthen as HRC Offers Rise Further

Published: Sep 11, 2026 16:08

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Malaysian steel prices moved higher overall this week. In the flat steel market, mainstream domestic offers for S275JR HRC rose by MYR 40/tonne week on week to MYR 2,190/tonne (approximately USD 537/tonne) EXW. The increase may have been partly driven by the incident at Vietnam’s Formosa Ha Tinh Steel, which temporarily heightened expectations of tighter regional supply and supported Malaysian HRC prices. However, Formosa Ha Tinh has since announced the resumption of production, easing concerns over the disruption. The long steel market also strengthened, with 16mm B500B rebar rising by MYR 30/tonne week on week to around MYR 2,150/tonne (approximately USD 527/tonne) EXW. Meanwhile, C12D wire rod remained stable at approximately MYR 2,250/tonne (around USD 551/tonne) delivered, around MYR 100/tonne above the rebar price. Overall, HRC and rebar prices increased during the week, while the wire rod market remained stable, resulting in slightly divergent movements across products. Outlook: Looking ahead to next week, the resumption of production at Formosa Ha Tinh may further ease regional supply concerns, potentially prompting a modest correction or readjustment in Malaysian HRC offers. Nevertheless, as the mill’s production capacity is expected to recover gradually, a sharp near-term decline appears unlikely. Rebar prices may remain firm with support from production costs and mill offers, although limited end-user demand could restrict further increases. Wire rod prices are expected to fluctuate narrowly around MYR 2,250/tonne delivered.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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