Iron & Steel
The iron and steel industry is an important sector as it supplies basic inputs and raw materials to several major sectors, including the construction industry, machinery and engineering industry, electrical appliances industry and the transport equipment industry.
It covers the manufacturing of ferrous (iron and steel) and non-ferrous (aluminium, tin, copper, zinc, lead, etc.) metal products as well as fabricated metal products.
The industry can be categorised into 2 main sub-sectors, namely:
oLong Products comprising billets, blooms, sections, bars and wire rods and downstream wire products, such as wire mesh, hard drawn wire, bolts, nuts and nails.
oFlat products comprising hot rolled coils, plates and sheets, cold rolled coils and sheets and downstream products such as pipes, galvanized coils, tin plate and fabricated products.
Currently, the industry is centred on the country’s construction and infrastructural needs. Production is dominated by long products, especially bars and wire-rods. Following the setting up of a medium/heavy section plant and a hot-rolled coil plant in Malaysia, local sourcing of such steel products/materials by various downstream consumer industries is gaining in momentum.
There are currently 2,611 projects producing these products with total potential employment of 196,311 workers.
To further enhance the development of the iron & steel industry, the current policy considers manufacturing licence for upstream products with elements below: