Steel demand in the six ASEAN countries to increase 3.4% in 2023

According to data released by the South East Asia Iron & Steel Institute, it is expected that in 2023, steel demand in the six ASEAN countries (Vietnam, Indonesia, Thailand, the Philippines, Malaysia and Singapore) will increase by 3.4% year-on-year, reaching 77.6 million mt.

In 2022, steel demand in these six countries only increased slightly by 0.3% year-on-year. The main drivers of steel demand growth in 2023 will come from the Philippines and Indonesia.

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