Updated Steel Consumption in 2014 for SEAISI member countries
Posted on 04 August 2015
Overall apparent steel consumption in the ten countries picked up moderately to 216 million tonnes in 2014, an increase of 4.5% y-o-y.
Australia’s apparent steel consumption recovered from a double digit negative growth rate in 2013 to a positive growth of 4.9% y-o-y in 2014. However, the steel demand of 6.3 million tonnes in 2014 was still lower than the level of 7.5 million tonnes in 2012. The increase in demand was met by import, which increased significantly by 28.2% y-o-y to 2.8 million tonnes in 2014. Meanwhile, domestic production reduced by 7% y-o-y to 4.1 million tonnes. Export increased slightly by 2% y-o-y to 594,000 tonnes.
Japan’s steel demand continued to grow at 4% y-o-y to 68.3 million tonnes in 2014. Domestic production increased marginally by 1% to 97.9 million tonnes. On the other hand, import surged robustly by 25% y-o-y to nearly 6 million tonnes. Export declined slightly by 1.5% y-o-y to 35.6 million tonnes.
South Korea’s steel demand also picked up from 53.5 million tonnes in 2013 to 57 million tonnes in 2014. Domestic production surged moderately by 6.8% y-o-y to 25.5 million tonnes, while import jumped by 16.5% y-o-y to 18.6 million tonnes. Steel export from South Korea remained significant in 2014, at 30 million tonnes, an increase of 13.2% y-o-y.
Taiwan’s steel consumption rose by 3.7% y-o-y to 18.8 million tonnes in 2014. Domestic production picked up moderately by 2.5% to 25.4 million tonnes. Import increased by 5.2% y-o-y to 4.3 million tonnes. Export continued to increase, at 4.5% y-o-y, to 11 million tonnes.
ASEAN’s steel demand continued to increase, albeit at a slower rate of 4.4% y-o-y, to 65.9 million tonnes in 2014. Domestic supply increased by 8% y-o-y to 27.5 million tonnes. Import continued to increased, but at a slower rate of 3.4% y-o-y to 46.4 million tonnes. Export jumped significantly, by 10% y-o-y, to 8 million tonnes, compared to the increase of 1.2% in 2013.