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Prime Steel predicts flat revenue for 2019

Steel News - Published on Mon, 21 Jan 2019

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Bangkok Post Prime Steel Mill Co, a Thai steel producer, expects 2019 revenue to stay flat at 10 billion baht, saying global steel prices are suffering from the US-Sino trade war. Thailand is set to be the next dumping ground for steel from China because that country cannot ship to the US because of higher tariffs, forcing Chinese exporters to find new markets.

Mr Win Suteerachai, chief executive of Prime Steel Mill said that Thai steel producers are finding it difficult to compete on price with dumped Chinese steel. He said that "The steel price competition between local producers and overseas importers will pressure our revenue, although the country's steel market will be driven by five megaprojects in the Eastern Economic Corridor scheme and other construction projects across the country. We forecast local steel consumption totals at 17-18 million tonnes in 2019, a 5-8% rise, but many local producers are facing such high competition."

Founded in January 2014, Prime Steel Mill Co is a joint venture of AMC and The Steel to produce hot rolled steel at Amata City Industrial Estate in Rayong, employing 400.

The company's 56,000-square-metre plant has a capacity of 600,000 tonnes a year, utilising capacity to the tune of roughly 500,000 tonnes.

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Posted By : Joykumar Irom on Mon, 21 Jan 2019
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