The South East Asia Iron and Steel Institute (SEAISI) has shared the ASEAN-6 countries’ steel demand data for 2020. SEAISI stated that steel demand in the ASEAN-6 countries decreased by 12 percent in 2020 totaling 70.6 million mt in 2020, compared to 80.3 million mt in 2019, due to the negative impact of the pandemic. However, in 2020, finished steel production in ASEAN-6 totaled 46.3 million mt, increasing by 3.7 percent year on year. Last year, the countries’ steel imports decreased by 18.2 percent year on year to 41.9 million mt, while steel exports increased by 12.8 percent to 17.58 million mt.
Looking at the countries individually, Indonesia’s steel demand decreased by 5.3 percent year on year to 15.1 million mt in 2020, amid a 19 percent year on year decrease in flat steel demand, which amounted to 7.3 million mt. On the other hand, the country’s long steel demand in the given year increased by 12.8 percent year on year to 7.8 million mt, due to the government’s ongoing infrastructure projects.
Malaysia’s steel demand decreased by 38 percent to 5.7 million mt in 2020. The country’s flat steel demand dropped by 20 percent to 3.4 million mt in 2020, while its long steel demand decreased to 2.3 million mt, both year on year.
In 2020, steel demand in the Philippines decreased by 15.5 percent compared to 2019 to 8.5 million mt. The country’s flat steel demand in 2020 dropped by 13.8 percent to 2.9 million mt, while its long steel demand totaled 5.7 million mt, decreasing by 16 percent, both year on year.
Singapore’s steel demand declined by 31 percent to 1.6 million mt in 2020, amid a slump in construction activities during the lockdown. In the given year, the country’s flat steel demand dropped by 21 percent to 526,286 mt, while its long steel demand decreased by 35 percent to 1.1 million mt, both year on year.
In the given year, Thailand’s steel demand declined by 11 percent to 16.3 million mt, due to the continued slowdown in the country’s economy as well as the impact of the pandemic-related restrictions. Thailand’s flat steel demand decreased by 12.5 percent to 10.2 million mt, while the country’s long steel demand dropped by 9.3 percent to 6.1 million mt, both year on year.
Vietnam’s steel demand in 2020 decreased by only four percent, totaling 23.3 million mt, due to the coronavirus being rapidly brought under control within the country. In the given year, the country’s flat steel demand dropped by 5.5 percent to 12.1 million mt, while its long steel demand fell by 2.4 percent to 11.2 million mt, both year on year.