MALAYSIA June 20 2016 2:25 PM
LONDON (Scrap Register): Steel demand in Thailand, Malaysia, Indonesia, the Philippines and Viet Nam are expected to maintain a growth rate of 6% next year despite exposure to China’s steel exports, according to World Steel Association (worldsteel).
According to worldsteel, the infrastructure construction will increase steel consumption in the five ASEAN countries to 74.6 million tons in 2017.
In emerging and developing economies excluding China, worldsteel forecasts that steel demand would grow by 1.8% and 4.8% in 2016 and 2017, respectively.
Steel demand in these economies will amount to 457.1 million tons next year, accounting for about 30% of the world’s steel demand.
Vietnam is the biggest steel importer in ASEAN and is ranked seventh in world.