ASEAN: Steel consumption forecast for 2022 rises 3.6% y-o-y to 77.9 mnt

The forecast for apparent steel consumption for the six ASEAN countries is around 77.9 million tonnes (mnt), up 3.6% y-o-y for 2022, as per the Southeast Asian Steel Association (SEAISI). This will be the second consecutive year that steel consumption is set to increase.

Country-wise consumption forecast

In the last 21 years, apparent steel consumption of the six ASEAN countries rose by 4.9% y-o-y to 75.3 mnt, out of which Vietnam's consumption was 22.1 mnt, Thailand's was 18.5 mnt and Indonesia's was 15.5 mnt. Philippines's consumption was 9.7 mnt, Malaysia's was 7 mnt and Singapore's consumption was 2.5 mnt.

Note: This article has been written in accordance with an article exchange agreement between Japan Metal Daily and SteelMint.