SEAISI: ASEAN countries' overall flat steel exports and imports fell in 2022
2023-06-30
The South East Asia lron and Steel Institute (SEAlS) has shared the ASEAN-6 countries' flat product import and export data for 2022. Overall flat product imports and exports in ASEAN-6 in 2022 decreased by 5.5% and 18.9%, respectively, both year on year.
In the given year, Indonesia's flat steel imports increased by 10%, while its exports decreased by 1.9% both year on year. The country's HRC imports rose by 2.4% year on year, while the exports of the given product declined by 7.4% year on year. Indonesia's cold rolled sheet imports and exports increased by 2.3% and 4.4%, respectively, both year on year.
In 2022, Malaysia's flat steel imports and exports recorded year on year declines of 6.9% and 6.8% respectively. The country's HRC imports remained at almost two million mt, recording a slight decline year on year while the country's HRC exports decreased by 15%. In the given year, Malaysia's cold rolled sheet imports declined by 19% year on year, while exports remained unchanged.
The flat steel demand in the Philippines and Singapore is all supported by imports. In 2022, flat steel imports in the Philippines increased by 10%, while the country's HRC and CRC imports rose by 7% and fell by 29% respectively, both year on year. Singapore's imports of flat steel were at 1.3 million mt in the given year and around 300,000 mt of which was for re-export.
Thailand's flat steel imports in 2022 decreased by a double-digit rate even though the country relies on flat steel imports to serve manufacturing sectors. The country's HRC imports fell by nearly one million mt, while its CRC imports decreased by more than 700.000 mt in 2022.
Looking at Vietnam, in 2022. the country's flat steel imports declined by 8.7%, while its exports of flat steel fell by 29%, both year on year. In the given year, Vietnam's HRC imports declined by one million mt, while its HRC exports decreased by 5.4% both compared to 2021. The country's CRC exports fell by 30% year on year in 2022.
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