SEAISI: Long steel demand in ASEAN countries mostly higher in 2021

Monday, 29 August 2022 12:42:02 (GMT+3)   |   Istanbul
       

The South East Asia Iron and Steel Institute (SEAISI) has shared the ASEAN-6 countries’ long steel demand data for 2021.

In the given year, the ASEAN-6 countries’ long steel demand recovered by one percent year on year to 35.1 million mt. The countries’ long steel output increased by nine percent year on year to 35.3 million mt in 2021. In the given period, the ASEAN-6 countries’ long steel imports rose by seven percent compared to 2020, while their long steel exports exceeded 10 million mt.

Looking at the countries individually, in 2021 Singapore’s long steel demand rose by 42 percent year on year to 1.5 million mt. However, the demand was still lower than pre-pandemic levels. The significant increase in long steel demand was due to the recovery in the construction industry, driven mainly by public residential and infrastructure projects.

The Philippines resumed building programs, boosting long steel demand to about six million mt in 2021. The government’s spending plan on infrastructure is expected to continue to increase over the next few years.

Long steel demand in Thailand in 2021 rose by 2.6 percent year on year to 4.7 million mt, due to the recovery in many of the government’s infrastructure projects and private construction projects.

Malaysia’s long steel demand moderately recovered at 1.2 percent year on year in 2021. The construction sector in the country saw improved demand in the second quarter of the year.

Meanwhile, Indonesia’s long steel demand decreased by 1.4 percent to 7.2 million mt in 2021, while Vietnam’s long steel demand declined by 1.1 percent to 11 million mt.


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