According to the Iron and Steel Institute of Thailand, in the first seven months of 2011, Thailand's finished steel consumption totaled 8.41 million mt, up 4.8 percent compared to the same period of 2010. In particular, the long steel consumption was 2.79 million mt, rising by 2.8 percent; while the flat steel consumption reached 5.62 million mt, up 5.8 percent, both compared to the corresponding period of last year.
Based on the abovementioned data, the institute predicts that the annual steel consumption will reach 14.4-14.8 million mt in 2011, increasing by 3.4-6.3 percent year on year, down from the previous expectation of 9-14 percent.
In the period of January-July, the finished steel production in Thailand reduced 1.5 percent year on year to 4.38 million mt