The South East Asia Iron and Steel Institute (SEAISI) has shared the ASEAN-6 countries’ finished steel import and export data for 2021.
In the given year, Indonesia’s finished steel imports rose by 17 percent year on year to 6.6 million mt. The country’s flat steel imports increased to 5.1 million mt, up by 22 percent and its long steel imports rose to 1.5 million mt, up by 2.1 percent, both year on year. The main finished steel import destinations were Australia, the Philippines and South Korea. Finished steel exports from Indonesia increased by around 1.6 million mt to 5.2 million mt in 2021. The country’s flat steel exports surged to 4.3 million mt in the given year, due to the huge increase in exports of hot rolled coil and cold rolled coil. Indonesia’s long steel exports rose by 67.4 percent year on year to 886,414 mt.
Malaysia’s finished steel imports recovered by 10 percent year on year to 5.9 million mt in 2021. The country’s flat and long steel imports rose by 11 percent and six percent, respectively, both year on year. Malaysia’s finished steel exports jumped significantly, led by exports of long products. It is worth noting that Malaysia’s long products sector is characterized by overcapacity, and so local mills were able to take advantage of the strong demand in China to export their wire rods and bars.
Thailand’s finished steel imports indicated the highest volume among the six countries in the region, at 12.1 million mt in 2021, up by 20 percent year on year. The country’s flat steel imports rose by nearly 2 million mt to 9.9 million mt, while its long steel imports surged by 11 percent to 2.3 million mt in the given year. Thailand’s finished steel exports increased by 27.4 percent year on year to 1.2 million mt, owing to the huge increase in exports of long steel, an increase of 41 percent year on year to 661,284 mt. The main destinations were ASEAN countries.
In 2021, Vietnam’s finished steel imports contracted by 1.2 million mt to 12.2 million mt, due to the decline in flat steel imports to 10.8 million mt. On the other hand, the country’s imports of long steel increased by 2.3 percent year on year to 1.3 million mt. The country’s finished steel exports surged by around three million mt to 9.7 million mt in 2021. Vietnam’s flat steel exports rose by 57 percent to seven million mt, while its long steel exports surged by 27 percent to 2.6 million mt, both year on year.
The Philippines’ finished steel imports recovered by 12 percent to 5.6 million mt in the given year. The country’s flat steel imports rose by 17.5 percent to 3.5 million mt, while its long steel imports increased to 2.1 million mt. The Philippines is not an exporting country. However, it appears a small amount of 10,000 mt of steel bars was exported in 2021.
In the given year, Singapore’s finished steel imports increased by 2.5 percent year on year to 2.7 million mt, due to the increase in long steel imports by around 200,000 mt to 1.5 million mt. Meanwhile, the country’s flat steel imports decreased by 11 percent year on year to 1.3 million mt. Singapore’s finished steel exports decreased by 500,000 mt to one million mt in 2021.