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SEAISI: Steel demand in ASEAN-6 countries to rise 3.4 percent in 2023

Friday, June 2, 2023
Source:ferro-alloys.com

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Keywords:steel, ore

[Fellow]The South East Asia Iron and Steel Institute SEAISI) has stated that steel demand in the ASEAN-6 countries in 2023 is projected to increase by 3.4 percent year on year to 77.6 million tons, after rising by 0.3 percent in 2022. The major drivers of the growth i...

[Ferro-Alloys.com]

SEAISI: Steel demand in ASEAN-6 countries to rise 3.4 percent in 2023
The South East Asia Iron and Steel Institute SEAISI) has stated that steel demand in the ASEAN-6 countries in 2023 is projected to increase by 3.4 percent year on year to 77.6 million tons, after rising by 0.3 percent in 2022. The major drivers of the growth in steel demand in the region will be Indonesia and Philippines.
The steel demand and gross domestic product (GDP) forecasts for ASEAN-6 countries in 2023 can be seen in the table below.

Countries	Steel demand	Demand growth (%)	GDP growth (%)
Vietnam	22.4	0.8	6-6.5
Indonesia	17.4	5	5.3
Thailand	16.7	3.7	2.7-3.7
Philippines	10.8	6	6-7
Malaysia	7.8	4.1	4.5
Singapore	2.5	0	0.5-2.5

[Editor:邢亞敏]

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