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Posted on 28 Apr 2023

Update of ASEAN-6 Long Product Import and Export in 2022 (preliminary data)

Overall long product import and export in ASEAN-6 in 2022 subsided with a mild increase of 2% in finished steel import and a decline of 5% in export.

Indonesia’s long steel import increased by 100,000 tonnes to 1.6 million tonnes in 2022. Export dropped moderately, by 3% y-o-y. Import of section jumped 57% y-o-y to above 300,000 tonnes. Half of the import was from China and the volume doubled when compared to the import from China in 2021. Export was not significant, but the volume increased from 4,000 tonnes in 2021 to above 10,000 tonnes in 2022 and most of them went to Malaysia.

Bar import increased 7.5% y-o-y to nearly half a million tonnes in 2022. Half of the import was from China. Export surged 14.8% y-o-y. The major destination was Australia.

Wire rod import dropped 6.5% and export slightly declined to below 700,000 tonnes. Major sources of wire rod were China and Japan. Indonesia exported wire rod to many countries, mainly to Philippines, Belgium, Taiwan, Singapore, Cote D Ivoire and Bangladesh.

Malaysia’s long steel import stagnated with a decline of 1% y-o-y to remain below 1.5 million tonnes in 2022. Export, in total, dropped 7% y-o-y to 5.3 million tonnes. Section import, on the other hand, jumped 15% y-o-y or an increase of nearly 100,000 tonnes. Major sources were China, Thailand and Turkey. Export dropped 20,000 tonnes to below 70,000 tonnes in the same year. The export was mainly to Singapore.

Bar import declined 6.7% to 164,817 tonnes whereas export declined by a double-digit growth rate of 14% y-o-y to 2.6 million tonnes in the same period. Major source of bars was China. Meanwhile, export destinations for bars from Malaysia were China (75%), Singapore and Myanmar.

Wire rod import contracted significantly by 22% y-o-y while export slightly increased, by 1%. Malaysia imported the bulk of wire rod from South Korea, Vietnam, China and Japan.

Long steel import in Philippines increased 7% y-o-y to serve domestic demand. There was no export volume in 2022. Import of section jumped 12% y-o-y to nearly a million tonnes. Major source was from China. Import volume for bars was not significant. This is because the country relies more on domestic production. The volume registered around 40,000 tonnes in 2022, which was a decline of 27% y-o-y. Philippines imported bars mainly from China. There was no production of wire rod in the country. As such, the country relies totally on wire rod importation. The volume, however, declined 14% y-o-y in 2022. Major sources were Malaysia, Indonesia and China.

Singapore’s long steel import continued to recover, at 13% y-o-y in 2022. Export jumped nearly 100,000 tonnes to reach 600,000 tonnes. Section import jumped 43% y-o-y or above 100,000 tonnes in 2022. The import was mainly from China and Thailand. Export doubled in volume to 240,000 tonnes. Singapore’ section export was mainly to Indonesia. It should be the import to re-export to Batam’s shipbuilding industry.

Bar import jumped from 430,000 tonnes in 2021 to 800,000 tonnes in 2022. Singapore imported bars from various countries, mainly from Malaysia, Oman and Qatar.  Export dropped 14% y-o-y. Both wire rod import and export declined significantly, by 30% y-o-y.

Thailand’s long steel import dropped 5% y-o-y to 2.1 million tonnes in 2022. Export increased around 200,000 tonnes to 860,000 tonnes in the same period. Section import volume was not significant and the figure dropped slightly, by 1.7% y-o-y. Export increased moderately, by 2.7% y-o-y. Major market for Thailand’s section were various countries, including Malaysia, Philippines, Singapore, New Zealand, Indonesia and Hong Kong.

Bar import dropped 11% y-o-y after a significant increased in 2021. Major sources were Japan, China and South Korea. Export doubled in volume to 252,517 tonnes. Major destinations were Canada, Myanmar and Laos.

Wire rod import dropped 13% y-o-y to register around a million tonnes. Thailand’s export of wire rod increased significantly, by 30% although the volume was minimal at 40,000 tonnes.

Vietnam’s import of long steel stagnated at 1.36 million tonnes. Export dropped 14% y-o-y. Import of sections dropped 8% y-o-y to 123,000 tonnes while export increased moderately, by 3.4% y-o-y to 246,000 tonnes. Major sources of section were China, Japan and Thailand. It is believed that Vietnam’s major market for section were Myanmar, Laos and Cambodia.

Bar import increased 21% y-o-y to half a million tonnes in 2022 and export rose to above a million tonnes in the same period. Major source of bars import was China. Meanwhile, major destinations for bar export were Hong Kong, Canada. It is expected that Myanmar, Laos and Cambodia could be in the destinations as well.

Vietnam’s trade of wire rod shrank with a double-digit negative growth rate in both import and export volume. Vietnam exported wire rod to many countries, mainly to Thailand, Singapore, Japan, Malaysia, Canada, Taiwan and Philippines. It is also expected that Myanmar, Laos and Cambodia should be one of the major destinations. However, there was no official record.