[SMM Weekly Review of the Malaysian Market] Flat Steel Remains Under Pressure While Long Steel Prices Fluctuate Narrowly
This week, Malaysia’s steel market remained generally weak, with limited transaction activity. Domestic S275JR HRC was largely stable at around 2,090MYR/tonne (510USD/tonne) EXW before edging up to 2,110MYR/tonne (519USD/tonne) EXW. On the import side, Dexin HRC was indicated at around 515USD/tonne CFR Malaysia, while Chinese-origin material was quoted at around 530USD/tonne CFR Malaysia. CRC prices remained stable at around 2,750MYR/tonne. In the long steel market, 12mm rebar was heard at around 2,330MYR/tonne, while 16mm and 20mm rebar stood at around 2,220MYR/tonne, slightly higher than previous levels. C12D wire rod prices fluctuated narrowly within 2,200–2,220MYR/tonne. Overall, Malaysian steel demand remained cautious and transaction activity was slow, with flat steel continuing to face import competition while long steel prices stayed relatively stable.