Posted on 04 Jul 2025
Large steel capacity expansion projects are still being planned in ASEAN, while the region continues to fortify its domestic market by intensifying trade remedies. Regional demand has nevertheless slowed amid economic uncertainties and competitive diverted global steel exports, which are taking market share at home and abroad. The region’s exports are growing amid rising production, but global trade barriers are also rising.
Vietnam and Indonesia are the two largest steel consuming countries in the region and also lead in terms of steel capacities, production, exports and imports. Several steel expansion projects are also being planned in Malaysia.
Overall ASEAN steel demand is healthy, with forecasts projecting 2.7% growth to about 82.5 million tonnes this year. ASEAN depends heavily on imports for its steel requirement, with imports accounting for nearly 67% of 2024 regional steel demand. Vietnam is the leading importer in the region, with imports of 17.7mt, which mostly came from China.
ASEAN steel exports have been rising because of large production increases in Vietnam, Indonesia and Malaysia. Vietnam was the leading exporter at 12.6mt last year, up 13.5% from 2023.
For more details, please see this week's Kallanish Steel Weekly Report.
Source:Kallanish
