ASEAN Steel imports rise 5.6% in H1 on higher flat Steel purchases
SELANGOR (Scrap Register): ASEAN-6’s finished steel import growth rate increased 5.6% from a year earlier to 25 million tonnes in the first half of 2019, compared to the rate of 2.8% in 2018, according to latest data from the South East Asia Iron and Steel Institute (SEAISI).
Long steel import declined 3.4% year-on-year to 6 million tonnes while import of flat steel grew 8.9% year-on-year to nearly 19 million tonnes in the same period.
Finished steel export from ASEAN-6 surged significantly, by 16-17% year-on-year, to exceed 7 million tonnes in the first half of 2019.
Both export of long and flat steel registered double digit growth rates during the same period, SEAISI said.