Tata Steel Thailand completing sale in May and expecting a limited increase in domestic consumption

Wednesday, 01 May 2019 23:42:23 (GMT+3)   |   San Diego
       

According to media sources, Tata Steel Global Holdings Pte Ltd. seeks to finalize the 67.9 percent stake of its Tata Steel Thailand Plc (TSTH) in May to a new venture in Singapore.

For the FY 2019 ended on March 31, 2019, TSTH posted sales of 1.15 million mt of steel, down by 5 percent year-on-year due to a bearish domestic market. Export volumes in FY 2019 were 136,000 mt, up 20 percent and making up 12 percent of total sales for the period.

According to President and CEO Rajiv Mangal, steel consumption demand is expected to trend at 2-3 percent in 2019, down from higher expectations of 5-6 percent due to potentially stalled government megaprojects. Political uncertainty stemming from the March 24 elections are also clouding private investment which is resulting in limited new purchase orders from the sector. Thai steel demand was 17.4 million mt in FY 2018.

TSTH has a 1.7 million mt capacity and produces rebar and wire rod at its plants in Con Buri, Saburi, and Rayong.


Tags: Thailand Far East 

Similar articles

Global View on Billet: Trend to switch to upward as scrap rebounds, fundamentals not very strong yet

01 Jul | Longs and Billet

Nippon Steel to buy two EAF producers in Thailand

21 Jan | Steel News

Wire rod prices in Asia follow uptrend with some deals done

16 Jul | Longs and Billet

Billet demand in Southeast Asia stronger than in China, prices under pressure

28 May | Longs and Billet

Southeast Asian customer books ex-Iran billet

27 May | Longs and Billet

Recent ex-Iran billet sale to Asia indicates decline only for exporter side

06 May | Longs and Billet

Bearish sentiments trigger speculations in Asian billet market

30 Jan | Longs and Billet

Slab prices in Asia rise with further room to increase amid strong HRC

07 Jan | Flats and Slab

Thai long steel manufacturers seek government support

16 Dec | Steel News

Thailand’s steel output and usage impacted by construction slowdown

02 Dec | Steel News