- Almost all the countries in ASEAN-6 enjoyed double digit growth rates in steel demand in 2016, except Malaysia and Singapore. Vietnam registered the highest growth rate of 22.3% y-o-y to 22.3 million tonnes in 2016, followed by Thailand, at 15.1% y-o-y to 19.2 million tonnes. Indonesia and Philippines experienced similar growth rates of 11.4% y-o-y and 11% y-o-y to 12.7 million tonnes and 9.7 million tonnes, respectively.
- Malaysia maintained its single digit moderate growth rate of 2.6% y-o-y to 10.3 million tonnes in 2016. Singapore was the only country in the region that experienced a negative growth rate, a sharp drop of 29.5% y-o-y. The volume of the steel demand in 2016, at 2.8 million tonnes, was the second lowest in the last decade, only slightly higher than the lowest level of 2.7 million tonnes in 2010.
- Indonesia’s significant growth rate of 11.4% y-o-y in steel demand in 2016 was mainly due to the robust increase in flat steel consumption of 24% y-o-y to nearly 8 million tonnes, while long steel demand experienced a decline of 4.7% y-o-y to 4.7 million tonnes. Flat steel production rose significantly, by 19.5% y-o-y, to 3.6 million tonnes. Import rose by 9.5% y-o-y to 5 million tonnes. Export declined by half to 611,292 tonnes in 2016. As for long steel, domestic production dropped by 5% y-o-y to 3 million tonnes. Import declined moderately, by 3.3% y-o-y to 1.9 million tonnes. Export rose slightly to nearly 180,000 tonnes.
- Malaysia’s flat steel demand in 2016 grew strongly by 17.9% y-o-y to 4.2 million tonnes. On the other hand, long steel demand dropped by 6% y-o-y to 6 million tonnes. Hot rolled flat steel production in the country was less than 300,000 tonnes a year in 2016, resulting in a huge increase in flat steel import from 3.9 million tonnes in 2015 to 4.7 million tonnes in 2016. Export dropped significantly, by 33% y-o-y, to 808,258 tonnes in the same year. Despite the drop in consumption, domestic production for long steel registered a positive growth rate of 4.3% y-o-y in 2016. Import, on the other hand, declined significantly, by 15% y-o-y to 2.8 million tonnes. Export rose by 12% y-o-y to 255,192 tonnes in 2016.
- Steel demand in the Philippines continued its momentum of growth with both flat and long steel consumption increasing significantly. Flat steel demand increased by 15.62% y-o-y to 3.4 million tonnes while long steel demand surged by 8% y-o-y to 6.3 million tonnes. Flat steel demand was fully supplied by imports, except for coated sheet. Domestic production for long steel rose by 8.3% y-o-y to 4.3 million tonnes. Import rose by 7% y-o-y to 1.9 million tonnes.
- Singapore’s steel demand declined significantly for both flat steel and long steel. Flat steel demand dropped by 16.5% y-o-y to 907,141 tonnes in 2016. Long steel demand declined by a million tonnes, or 34% y-o-y to 1.9 million tonnes in the same year. Flat steel demand was fully served by imports. Domestic long steel output increased moderately, by 5.4% y-o-y to 528,453 tonnes while import dropped significantly, by 24.6% y-o-y to 2.6 million tonnes in 2016.
- Thailand’s flat and long steel demand both registered double digit growth rate in 2016. Flat steel demand increased by 10.3% y-o-y to 11.7 million tonnes. Domestic output surged by 8.7% y-o-y to 2.7 million tonnes. Import, at 9.5 million tonnes, was an increase of a million tonnes from 2015. Export rose significantly, by 29% y-o-y to 474,791 tonnes. Domestic production of long steel jumped by 31.7% y-o-y to 5.3 million tonnes. Import rose moderately, by 5.6% y-o-y to 2.8 million tonnes while export declined slightly, by 2.2% y-o-y to 606,865 tonnes in 2016.
- Vietnam’s steel consumption registered the highest growth rate in the region in 2016, owing to the significant expansion in demand for both flat and steel products. Flat steel demand jumped by 25.6% y-o-y. Import rose by 27.4% y-o-y in 2016. Export continued its significant growth momentum, at 35% y-o-y to 2.9 million tonnes in the same year. Long steel demand surged by 19% y-o-y to 10.8 million tonnes in 2016. Domestic production expanded by 20% y-o-y to 8.7 million tonnes. Import rose by half a million tonnes to 3 million tonnes in the same year. Export volume registered 901,000 tonnes, an increase of nearly 30% y-o-y in 2016.
Extracted from the 2017 SEAISI Statistical Yearbook