Posted on 16 Jul 2025
Most steel-making production in ASEAN-6 relies on EAF facilities, with a billet/bloom production capacity of nearly 60 million tonnes and a slab production capacity of approximately 28 million tonnes. (ASEAN-6 consists of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam).
Semi-finished steel production in total approximate 50 million tonnes each year (the figure in 2023 was 50.9 million tonnes).
Nevertheless, many ASEAN mini mills still rely on importing semi-finished steel each year. Semi-finished steel imports totaled 9 million tonnes in 2023 and export was 8.2 million tonnes in the same period.
Semi-finished steel imports registered 6.4 million tonnes from January to October 2024. Exports registered a similar volume of 6.6 million tonnes in the same period.
Indonesia’s billet import declined by 120,000 tonnes to 575,000 tonnes whereas exports rose by 18.4% to 885,000 tonnes. Slab imports fell by 20% to 899,000 tonnes while exports surged by 444,000 tonnes, reaching nearly 2 million tonnes during the first ten months of 2024. Indonesia’s export of stainless semi-finished steel continued to increase by 16.7% to 1.3 million tonnes in the same period. Major destinations were India, China and Taiwan.
In Malaysia, trade for both billet and slab declined significantly. Billet imports dropped 22% to 81,000 tonnes in the first ten months of 2024 while exports reduced from 358,000 tonnes in the first ten months of 2023 to 130,000 tonnes in the same period of 2024.
Slab import remained under 1,000 tonnes. Export of high carbon slab was found to increase from 306,000 tonns in the first ten months of 2023 to 380,000 tonnes in the same period of 2024.
The Philippines does not produce hot-rolled flat steel. As a result, there is no need to import slabs for hot-rolled sheet or coil production.
Billet imports dropped by 39% to 1.4 million tonnes in the first ten months of 2024. 70% of these was the import of high-carbon billet, for use in infrastructure and high-rise buildings construction. There was no export of semi-finished steel in the country.
Singapore’s only steel producer of long steel. They are fully self-sufficient in supplying its own billets. Billet imports were less than 2,000 tonnes in the first ten months of 2024. There is no import and export of slab.
Thailand’s steel industry relies heavily on import of semi-finished steel. However, billet imports dropped by half to 267,000 tonnes in the first ten months of 2024. Exports were not significant but the volume increased from 10,000 tonnes in the first ten months of 2023 to 38,000 tonnes in the same period of 2024.
On the other hand, slab imports remained substantial, totaling 1.3 million tonnes in the first ten months of 2024, while exports were low.
Vietnam's import of semi-finished steel was minimal. Billet imports halved to 26,000 tonnes in the first ten months of 2024, while slab imports also decreased by half, totaling 34,000 tonnes.
Meanwhile, billet exports jumped 33% to 96,000 tonnes. Vietnam’s slab exports were nearly a million tonnes in the first ten months of 2024, marking a 37% decline compared to the same period in 2023.
Remark: The analysis is based on various sources.
Source:SEAISI
