Thailand plans to develop specialty steel products

Thailand aims to develop high-quality specialty steel products in an effort to attract more local and foreign capital and increase employment. Thailand's Iron and Steel Institute is preparing a national iron and steel development plan to increase investments and employment as well as to drive the economy. Steel manufacturing in Thailand involves a handful of producers, who do not process specialty products, which are vital for automotive, electronic, and electrical, and construction sectors. Local steelmakers mostly concentrate on products such as hot rolled and cold rolled steel, bars and rods, the prices of which fluctuate in line with demand and supply in the global market.