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  • Commodities Buzz: Steel Imports in Six ASEAN Countries Drop 11% in H1 2017

    Total steel import in the ASEAN six countries (namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam) declined significantly, by 11% y-o-y to around 25 million tonnes in the first half of 2017. Intra-ASEAN steel trade also declined, by 6-7% y-o-y, to 1.4 million tonnes in the same period of 2017. Intra-ASEAN steel trade for long steel declined by a double digit of 12.5% y-o-y to less than 400,000 tonnes in the first half of 2017.

    Section import among the ASEAN-6 region dropped by 21% y-o-y to around 110,526 tonnes in the first half of 2017. Major source within the region was Thailand, of which its volume decreased by 19% y-o-y to around 100,000 tonnes in the same period of 2017. Import of bar within the region, on the other hand, rose by a double digit of 33% y-o-y to 77,269 tonnes in the first half of 2017. Major source was Singapore. The import volume from Singapore rose sharply from 43,000 tonnes in the first half of 2016 to 60,000 tonnes in the same period of 2017.

    Intra-ASEAN trade for wire rod was not significant, at 37,000 tonnes in the first half of 2017, a sharp decline in volume by half when compared to the same period of 2016. Import from Singapore dropped from 62,871 tonnes in the first half of 2016 to a minimum volume of only 200 tonnes in the same period of 2017. On the other hand, Malaysia and Vietnam both registered higher export volumes of wire rod to the region in the first half of 2017, at 15,000 tonnes (+80% y-o-y) and 14,000 tonnes (more than 20 folds), respectively. Intra-ASEAN trade for flat steel declined moderately, by 4.5% y-o-y to 1.03 million tonnes in the first half of 2017.

    Hot rolled plate import within the region dropped by 8.7% y-o-y to 133,411 tonnes in the same period of 2017. Major sources of import within the region were Indonesia, Singapore and Malaysia. Import from Indonesia declined 23% y-o-y to 80,000 tonnes in the first half of 2017. Meanwhile, import from Singapore and Malaysia were mainly re-exports since there is no production of HRP in Singapore while production of the same product in Malaysia is minimum, if any. Import of hot rolled coil within the region dropped sharply, by 23% y-o-y to 65,000 tonnes in the first half of 2017. Import from Indonesia decreased significantly, from 54,000 tonnes in the first half of 2016 to 16,500 tonnes in the same period of 2017. However, import from Vietnam doubled in volume to 29,000 tonnes in the same period of 2017.

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Flash News 26-Sep-2018
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26 September 2018 00:00
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