The Demand for Steel in Asean Countries in The First Half of 2013 Surged by 17%

It is reported that the demand for steel in Association of Southeast Asian Nations (ASEAN) countries in the first half of 2013 surged by 17% from a year ago. Besides, the imports of finished steel products also increased by 14.6% year on year to 22.3 million tons, according to South East Asia Iron and Steel Institute (SEAISI). Indonesia represents the strongest growth on steel demand, going up by 35% to 7.6 million tons in the period. However, Vietnam has great performance on both of steel demand and finished steel product imports. Its steel demand soared by 29% in the first half of 2013 to about 6.2 million tons and the part of imports increased drastically by 46% to 4.8 million tons. SEAISI indicates the exports of finished steel products in the area dropped by 5% in the first half of 2013, compared to the same period of last year. However, Singapore and Vietnam are the only two countries that have an increase of export volume.