ASEAN Steel Demand Hits First 50 Million T in 2011

Apparent steel consumption in Association of Southeast Asian Nations (ASEAN) hit first 50 million tonnes in 2011, according to South East Asia Iron & Steel Institute (SEAISI). The demand increased by 4% to 50.5 million tonnes from 2010, which increased for 2 years in a row and increased by around 40% from 2006. The demand increased by 8% each in Indonesia and Philippines while the demand increased only by 3% in the largest consuming country of Thailand due to the flood. Offshore steel makers would accelerate the investment in the area to cover the growing demand in the area with more than 600 million of population.

Thai demand was 14.65 million tonnes in 2011 while without the flood, the demand could reach 15 million tonnes to renew the record. The demand was 9.7 million tonnes in Indonesia and 4.3 million tonnes in Philippines while the demand increased by more than 1 million tonnes to 3.8 million tonnes in Singapore from 2010. The demand in Vietnam decreased by 5.4% to 10 million tonnes due to financial squeeze. The demand also decreased by 3.2% to 8.05 million tonnes in Malaysia.

The flat steel demand increased by 4% to 27 million tonnes in ASEAN in 2011 from 2010. The import increased by 8% to 25 million tonnes, which represented more than 90% of the demand. The local production decreased by 1.7% to 7.5 million tonnes. The demand increased by 12% to 6 million tonnes in Indonesia while the production increased by 9% to 2.6 million tonnes and the import increased by 13% to 4.6 million tonnes in the country. The demand in Singapore increased by 23% to 1.5 million tonnes while the import increased by 25% to 2.8 million tonnes.

Thai flat steel demand increased by 3.5% to 10 million tonnes in 2011 from 2010 while the production decreased by 14% to 3.3 million tonnes. Vietnamese flat steel demand decreased by 2.7% to 4.2 million tonnes while the import decreased by 5.8% to 5.6 million tonnes and the export increased by 40% to 1.4 million tonnes.

Long steel products demand increased by 4% to 24 million tonnes in ASEAN in 2011 from 2010. The production was flat at 18.5 million tonnes and the import increased by near 1 million tonnes to 8 million tonnes. The demand decreased by 8% to 6 million tonnes in Vietnam.

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