SEAISI: Apparent steel consumption in ASEAN-6 down 0.1% in 2022

The South East Asia Iron and Steel Institute (SEAISI) has stated that in 2022 overall apparent steel consumption in ASEAN-6 countries plus Japan, South Korea and Taiwan declined by 5.5 percent year on year to 145.15 million mt.

In the given year, total apparent steel consumption in ASEAN-6 countries decreased by 0.1 percent to 75.12 million mt. Looking at the different countries, steel consumption in Indonesia, Malaysia, the Philippines, Singapore and Vietnam increased by 7.3 percent, 6.9 percent, five percent, 0.5 percent and 0.8 percent, respectively to 16.58 million mt, 7.51 million mt, 10.16 million mt, 2.49 million mt and 22.23 million mt, while consumption in Thailand amounted to 16.13 million mt, down by 12.7 percent.

Steel production in Japan in 2022 declined by six million mt year on year to 78.7 million mt. The country’s imports decreased by 0.4 percent to 4.7 million mt, while its exports dropped by five percent to 28 million mt, both year on year. In the given period, production in South Korea and Taiwan decreased by nine percent and 9.3 percent to 62.8 million mt and almost 26 million mt, respectively, both year on year. In 2022, the steel imports of South Korea and Taiwan declined by 2.7 percent and 31.0 percent to 11.5 million my and 3.3 million mt, both compared to 2021, respectively.

The countries’ apparent steel consumption in 2022 are presented in the tables below.