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Steel sales to get boost from Thai govt regulation to use local products


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Steel sales to get boost from govt regulation to use local products

By The Nation

 

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Steel consumption is expected to grow by 5-8 per cent, the Iron and Steel Industry Club of the Federation of Thai Industries (FTI) predicted.

 

Domestic steel consumption this year will grow by 5-8 per cent, or around 17-18 million tonnes, as the Thai economy has started to recover.

 

Steel demand will also grow under the “Made in Thailand” policy announced recently in the Government Gazette by the Comptroller-General. Under the policy, government agencies have to procure not less than 60 per cent from domestic produce and the FTI has included steel in the list.

 

The policy is expected to be effective in February and will give an impetus to use of local steel in construction work. Although the new regulation allows imports if necessary, government agencies are expected to follow the regulation.

 

However, the steel industry still has to be closely monitored vis-a-vis global steel price, which has been steadily rising since the end of 2020, especially due to increasing Chinese demand despite the Covid-19 situation. Demand from China increased by 8 per cent in 2020, compared to 2019, forcing China to import every type of steel.

 

Meanwhile, many countries faced economic recession, both in Europe and Japan, causing many steel furnaces to be shut down, pushing all types of global steel prices, including construction steel, up by 10 per cent.

 

Nava said global steel prices will continue to rise until the first quarter of 2021 and should fall in the second quarter as steel companies that were shut down due to Covid-19 gradually reopen.

 

Source: https://www.nationthailand.com/business/30401463

 

 

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-- © Copyright The Nation Thailand 2021-01-20
 
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1 hour ago, Robin said:

Does Thailand have a steel making industry? 

Supplies of iron ore and coal to make steel?

Interesting question.  I live in Virginia, USA.  We export a lot of metallurgical grade coal from VA and West VA.  In the wee hours of the night I hear trains hauling coal down to the ports of Norfolk or Hampton Roads. Mile-long trains. 

 

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1 hour ago, Damrongsak said:

Interesting question.  I live in Virginia, USA.  We export a lot of metallurgical grade coal from VA and West VA.  In the wee hours of the night I hear trains hauling coal down to the ports of Norfolk or Hampton Roads. Mile-long trains. 

 

image.png.99a8e85fcb75bc68de611d5d2916eedd.png 

 

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I've never seen anything quite like that before! 

It makes you wonder how much metal is used daily, how much remains available, how much longer the earth's supplies will last, and eventually, how we'll plunder the universe for more. 

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5 hours ago, Robin said:

Does Thailand have a steel making industry? 

Supplies of iron ore and coal to make steel?

No....I believe all steel in imported. There are foundries here that do casting and rolling

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The only Steel that Thailand has is from China.

Truck loads of the stuff come into the Docks and are transported to Rolling Mills in Rayong.

So, in effect, Thailand does not even have a Steel Industry. Only Industries that use the Steel to make Raw Billet into Rebar or Rolled Sheet Etc

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