SEAISI: ASEAN’s flat steel market outperforms longs in 2019
According to Yeoh Wee Jin, secretary general of the South East Asia Iron and Steel Institute (SEAISI), in 2019, the flat steel consumption of ASEAN countries has steadily increased and all major indicators of production, import and export have significantly grown.
However, the demand for long steel products has decreased, prompting local steel mills to expand exports.
Total steel consumption of ASEAN increased by 1.2% to 81 million tons in 2019. China has remained a major supplier of imports for flat products. In terms of long products, the main reason for the low demand was the slowdown in construction in major Southeast Asian countries.
