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Looking at the countries individually, in the first half of 2021, Vietnam’s steel demand increased by 13.3 percent year on year to 12.7 million mt. In the given period, steel demand in Thailand totaled 10 million mt, up by 25 percent, while Indonesia’s steel demand was at 6.5 million mt, up by 12 percent, both year on year.
Steel demand in the Philippines totaled 3.9 million mt in the first half last year, down by 4.8 percent year on year. In the first half, Malaysia and Singapore’s steel demand came to 3.6 million mt and 1.3 million mt, respectively.
ASEAN-6 steel demand is forecast to reach 77.2 million mt in 2021. Steel demand in Indonesia, the Philippines and Singapore are forecast to reach or exceed pre-pandemic levels in 2021, totaling 16 million mt, 11 million mt and three million mt, respectively. In 2021, steel demand in Vietnam, Thailand and Malaysia is expected to total 24 million mt, 17 million mt and seven million mt, respectively.
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