According to South East Asia Iron and Steel Institute (SEAISI), intra-ASEAN steel trade in the January-July period of this year increased by 14 percent year on year to 1.73 million mt. However, in the mentioned period, intra-ASEAN steel trade remained unchanged at a five percent share of total steel imports in the region, compared to the same period of the previous year.
In the January-July period this year, Vietnam was the biggest import source in intra-ASEAN steel trade, supplying 627,615 mt, increasing by 5.3 percent year on year. In the first seven months of this year, Vietnam was followed by Malaysia with 308,494 mt, Thailand with 290,191 mt and Singapore with 274,479 mt. In the given period, imports from Indonesia totaled 228,317 mt, with a significant increase of 77 percent year on year.
Intra-ASEAN trade for steel bars in the January-July period this year amounted to only 66,701 mt, with an increase of 13.4 percent year on year. The biggest import source for steel bars in the ASEAN region was Singapore which supplied 50,633 mt in the given period. Major destinations of bar exports from Singapore were Malaysia and Indonesia.
In the given period, wire rod imports within the ASEAN region totaled 83,624 mt with a significant increase of 63 percent year on year. Singapore was the biggest source of wire rod imports among ASEAN countries, supplying 71,432 mt in the first seven months of 2016. Nearly all of the volume (94 percent) was sent to Malaysia.
Hot rolled coil imports within the ASEAN region jumped by 63 percent year on year to 99,782 mt in the first seven months of 2016. The biggest source of HRC imports was Indonesia, supplying 61,860 mt. In the given period, the main destination was Malaysia, which absorbed 54,006 mt.