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In the participating countries of ASEAN has grown a record steel consumption

24 November 2016

Consumption of steel products, in recent years, increased significantly in Asian countries. Recently, tan Ah Yong, General Secretary of the South East Asia Iron & Steel Institute (SEAISI) made a report, which clearly demonstrated the growth of consumption. The Association of South-East Asia includes six countries (Malaysia, Thailand, Singapore, Indonesia, Philippines, Vietnam). For the first six months of this year, ASEAN steel consumption set 39,3 million tons. The figure exceeded last year’s 19.3 percent. Overall, in 2015, participating countries used the 69 million tons.

First place for the consumption with an index of 11.4 million tons was Vietnam. This figure is almost forty percent more than last year.

In 2015, the Thai economy was at a standstill, but over the last six months, the consumption of steel grew up here. The increase was 19 percent. Steel consumption in the country rose to 9.9 million tonnes.

Indonesia also showed a positive trend at 11.1 percent. Used 6.4 million tons of product.

In Malaysia, the demand has grown a little smaller and amounted to 5.6 million tons. The percentage of consumption increased by 10.7 percent.

Philippines, as before, be the last in the region to stereotropism. However, here is noticeable a significant increase of 29.6 per cent.

The only country from ASEAN that have negative population growth was in Singapore. This year has been to reduce the use of steel 40.3 percent. According this year the country needed only 1.3 million tons of product. This statistic explains the General decline in the economy of Singapore.

In connection with the growth of domestic demand, and increased production of steel in the region. In the first half of this year grew by 21.3 percent. In General, part of long products made up 12.85 million tonnes. The share of hot-rolled sheet products made up 3.66 million tons.

Import of steel and its products, also increased and was 26.81 million tons. The largest supplier was China, it accounted for 53 percent of the total. According to statistics, from North Korea to the region was aimed of 28.36 million tonnes of steel. The figure was above last year by 20 percent. For Chinese suppliers cooperation with the countries of ASEAN was the «saving thread». Because, this year, shipments from the DPRK to India, Europe and the United States has decreased significantly.

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