It is reported that the consumption and production of finished steel in Thailand will decrease in the first half of 2023.
According to the Steel Institute of Thailand (ISIT), finished steel production decreased by 14.3% in the first half of the year, to 3.35 tons. The total consumption of steel decreased by 3.1% year-on-year, to 8.5 million tons. Except for bars, profiles, galvanized steel, and other coated thin plates, each steel product showed a year-on-year decline.
In addition, Thailand’s steel imports increased by 5.7% year-on-year to 5.89 million tons in the first half of the year. The import of long materials increased by 9.4% year-on-year, and the import of sheet metal increased by 4.7% year-on-year. Thailand’s cumulative steel exports from January to June increased by 4.5% to 736000 tons, including 489000 tons of long steel and 246000 tons of sheet metal.