Overview of Steel Consumption Pattern in SEAISI member countries and Japan

Posted on 02 August 2019
 

Source: SEAISI
  • Overall apparent steel consumption in the ten countries increased slightly, by 1.1% y-o-y to 224.6 million tonnes in 2018.
  • Australia’s apparent steel consumption was unchanged, at 4.76 million tonnes in 2018. Domestic production increased slightly, by 1.6% y-o-y ,while import and export declined.
  • Japan’s overall steel demand continued to increase 1.7% y-o-y to 66.3 million tonnes in 2018. Domestic production stagnated at 92.4 million tonnes. However, import and export dropped moderately, by 4-5% y-o-y in the same year.
  •  Korea registered a decline in steel demand of around 3 million tonnes to 53.6 million tonnes in 2018. Production remained unchanged at 69.6 million tonnes. Import dropped significantly, by 4 million tonnes to 12.4 million tonnes in 2018. Export declined moderately, by 3.7% y-o-y to 28.4 million tonnes in the same period.
  • Taiwan’s steel demand surged 2.4% y-o-y to nearly 20 million tonnes in 2018. Steel production increased 7% y-o-y or around 2 million tonnes to 28.5 million tonnes in the same period. However, import dropped dramatically, by a million tonnes to 2.9 million tonnes in 2018. Steel export rose 4% y-o-y to 11.5 million tonnes in the same period.   

  • ASEAN-6’s steel demand picked up moderately, by 4.9% y-o-y to 80.02 million tonnes in 2018, mainly due to the on-going mega projects in many countries, especially Indonesia and Philippines.
  • Steel production registered a double-digit growth rate of 15.3% y-o-y to 42.8 million tonnes and import increased slightly, by 2.8% y-o-y to 50.6 million tonnes in 2018. ASEAN is not a major steel exporter; however, export volume surged significantly since 2017 and continued to expand at 33% y-o-y to 13.4 million tonnes in the same year. 
  • Indonesia’s steel demand registered the highest growth rate among the six countries in ASEAN, at 11% y-o-y to 15.08 million tonnes in 2018. Philippines, which has seen its steel demand expanding rapidly since 2010, continued to register a strong growth rate in 2018. Total steel demand in 2018 grew 9.2% y-o-y to 10.73 million tonnes, the second highest growth rate in the region.
  • Singapore’s steel demand picked up 3.7% y-o-y to 2.89 million tonnes in 2018. However, the volume was still low when compared to the level before 2016, which was around 4 million tonnes a year. Malaysia maintained its moderate growth rate of 3.5 %y-o-y for steel demand to 9.77 million tonnes in the same year.
  • Vietnam’s steel demand started to slow down in 2017, declining 3% y-o-y. However, steel demand picked up moderately, at 3% y-o-y in 2018, resulting in steel demand in Vietnam going back to the 2016 level of 22.3 million tonnes. 
  • Among the six countries in the region, Indonesia, Philippines and Vietnam registered double-digit growth rates in steel production in 2018. Meanwhile, steel production volume in Thailand and Singapore both declined while Malaysia’s steel output stagnated in 2018.
  • Total steel export in the ASEAN -6 region showed a strong growth of 33% y-o-y in 2018. This was owing to the significant growth in steel export volume from Indonesia (doubled in volume from 2017) and Vietnam (up 41% y-o-y).

 



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