Steel consumption in Southeast Asia's six biggest economies is estimated to have declined as much as 8.7% last vear due to pandemic-driven lockdowns, and prospects for a quick rebound remain clouded. an industry group said on Thursday.As the economies of Indonesia. Malavsia, the Philippines, Singapore, Thailand and Vietnam were hit hard by the global health crisis, the region's steel consumption likely slumped to between 73.3 million tons and 75.31 million tons, accordina to the South East Asia lron and Steel Institute (SFAISl) The estimates are 6.2%-8.7% lower than the 2019 volume, it said in a report.Construction activity, traditionally the main driver of steel demand in the recion, was disrupted in Indonesia Malaysia and the Philippines. In contrast, Vietnam was able to expand in the sector. having been able to quickly curb the CoVID-19 spread, the group said.Thailand has also taken immediate action by boldly driving the demand for construction in the second and third quarters, it saidThe automotive industry was also a "maior victim" amona the reoion's steel consumers. with the laroest producina countries Thailand Indonesia and Malavsia severely hit while the manufacturino sector also took heaw blows. it said.But not all is bad during the economic downturn, as the region's steel producers opted to boost exports to countries that had controlled the pandemic and restarted their economies much earlier, notably China, while domestic demand remains sluggishSoutheast Asia's steel exnorts iumned 27% to 93 mllion tons in the first half of 2020 from a vear earieraccordina to SFAISI,With COVID-19 restrictions still in place. the aroup said activity in the recion's construction sector and infrastructure expansion remains limited. "With collapsina domestic demand for steel, steel industries are facing the urgent need for new market opportunities outside the region to withstand the economic clownturn."the group said.
Cangzhou Steel Pipe Group (CSPG)Co.,Ltd.
No.92 JieFang East Road ,Cangzhou City, Hebei,P.R.China.
CSPG has more than eighteen years history company which located in Lecong Iron and Steel World, a well-known steel distribution center in China, with superior geographical position and convenient water and land transportation.
We are a direct-selling manufacturer specializing in the research and development of spiral steel pipes, steel spiral pipes, anti-corrosion steel pipes inside and outside. Since its inception, the company has been guided by a brand-new thinking of steel pipe product market based on the business philosophy of honesty, pragmatism and knowledge-seeking.