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ASEAN Finished Steel Import in H1 up 5% - SEASISI

Steel News - Published on Tue, 12 Nov 2019

Image Source: steelguru.com
South East Asia Iron & Steel Institute said that ASEAN finished steel import growth rate increased 5.6% YoY to 25 million tonnes in the first half of 2019, compared to the rate of 2.8% in 2018. Long steel import declined 3.4% YoY to 6 million tonnes while import of flat steel grew 8.9% YoY to nearly 19 million tonnes in the same period. Finished steel export from ASEAN-6 surged significantly, by 16-17% YoY, to exceed 7 million tonnes in the first half of 2019. Both export of long and flat steel registered double digit growth rates during the same period.

Indonesia finished steel import increased moderately, by 4% YoY to nearly 4 million tonnes in the first half of 2019. However, import of long steel declined to below a million tonnes in the same period. Flat steel import, on the other hand, continued to register a positive growth rate of 7% YoY. This was a result of a significant jump in the import of hot rolled products and cold rolled coil. Finished steel export from Indonesia continued to increase at a significant rate, at 42% YoY to 1.6 million tonnes in the first half of 2019. This was mainly due to the robust increase in the export of flat steel which nearly doubled in volume to 1.5 million tonnes. Meanwhile, export of long steel declined slightly.

Malaysia finished steel import in the first six months of 2019 declined by nearly 10% YoY to 3.3 million tonnes. The bulk of import was for flat steel, but the volume declined slightly to 2.4 million tonnes while import of long steel increased by a double digit of 17% YoY. Export, on other hand, increased robustly, by 55% YoY, to 897,601 tonnes. This was due to a huge expansion in long steel export, which increased by three folds compared to the same period of 2018. Export of bar doubled in volume while export of wire rod increased by more than five folds.

Philippines finished steel import was somewhat stable, with a slight increase of 2% YoY to 2.7 million tonnes from January to June 2019. There is no export recorded in the same period. Import of long steel declined 7% YoY while import of flat steel increased 9% YoY to 1.7 million tonnes during the same period of 2019.

Singapore finished steel import decreased 8% YoY to 3.7 million tonnes in the first half of 2019. Both long steel and flat steel registered negative growth rates. Long steel import dropped 11% YoY to 2.3 million tonnes and flat steel shrank 3% YoY to 1.4 million tonnes during the same period of 2019.

Finished steel import in Thailand expanded moderately, by 4.5% YoY to 6 million tonnes in the first half of 2019. Both flat and long steel import continued to grow at 4-5% YoY. Import of hot rolled plate and coated sheet registered double digit growth rates from January to June 2019. This was partly due to the substitution for the slowdown in domestic supply. Finished steel export from Thailand, on the other hand, declined 11.3% YoY to 695,188 tonnes in the first half of 2019. Export of long steel was stable, with a marginal growth rate of 1% YoY. On the other hand, export of flat steel declined 26% YoY in the same period of 2019.

Vietnam finished steel import increased robustly, by 21% YoY, to more than 7 million tonnes in the first half of 2019. The bulk of import in Vietnam was the import of flat steel with the volume registering a double digit growth rate of 17-18% YoY in the first half of 2019. Import of long steel rose significantly, by nearly 50% YoY in the same period. Export from Vietnam continued to increase, but at a more moderate growth rate of 8% YoY in the first half of 2019. Export of long steel surged around 300,000 tonnes to 1.1 million tonnes in the same period. Meanwhile, export of flat steel slowed down by 2.5% YoY to 2.3 million tonnes.

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Posted By : Rabi Wangkhem on Tue, 12 Nov 2019
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