Update on ASEAN Steel Import

Posted on 08 November 2012
 

Source: SEAISI
ASEAN is a major importer of steel products, with more than 40 million tonnes of semi-finished and finished steel imported into the region in 2011. Japan has been the largest source of import in the region with export volume increasing at a moderate rate of 5% from 2000 to 2011. China  was the second largest exporter of steel products into the region followed by South Korea.

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ASEAN’s import of semi-finished steel and major steel products increased substantially in 2010 and 2011. Major imported products were semi-finished steel and high quality steel. Import of semi-finished steel grew by an average rate of 4.5% from 2000 to 2011 whereas imports of wire rod and hot rolled plate registered double digit growth rate of 13.5% and 16.5% respectively in the last 11 years.

ASEAN steel import (million tonnes)
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The region’s semi-finished steel production capacity is not sufficient leading to huge volume of import each year. However, import volume registered a significant decline from 2006 to 2008 and picked up slightly in 2009 and 2010. However, the figures in the first half of 2012 showed a significant increase of 24% y-o-y.

Import of hot rolled coil constituted 26% of total import of steel into the region in 2011. Import volume increased by an average rate of 5.5% from 2000 to 2011. The volume in the first half of 2012, however, jumped by 15% y-o-y. Japan is the largest source of import of HRC to the region. 38% of total import in 2011 came from Japan. However, import from China continued to increase significantly with an average growth rate of 30% from 2000 to 2011, making China the second largest source of HRC import into the region. Import of HRC from China to the region continued to surge by 16% y-o-y in the first half of 2012.

Import of coated sheet into the region soared sharply starting from 2010. The largest source of import was Japan accounting for nearly half of the total import in 2011. However, the import volume from China doubled in volume in 2010 and continued to increase in 2011, making China the second largest source of import.

Import of cold rolled sheet made up 13% of total import of steel in the region in 2011. Import from Japan, the largest source of CRC import, grew only at an average growth rate of 3% from 2000 to 2011. On the other hand, import from China rose significantly by 24% from 2000 to 2011. For the first half of 2012, import volume from Japan declined substantially by 16% while import from China dropped by 8% y-o-y in the same period. On the other hand, import from Korea surged by 7% y-o-y.


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