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ASEAN-6 region saw an increase in total scrap demand

The ASEAN-6 region witnessed a moderate 3.6% year-on-year increase in total scrap demand, reflecting a slight uptick in semi-finished steel production across these countries.

ASEAN-6 region saw an increase in total scrap demand

Indonesia experienced a robust 10.7% rise in scrap demand, reaching 18.5 million tonnes in 2023. This growth was supported by domestic supply, with imports decreasing by 8.5% to 1.1 million tonnes. Key import sources included Australia, Hong Kong, and Singapore.

Malaysia maintained a domestic scrap supply of 4.3 million tonnes, despite a slight 1.1% decrease. Imports, however, saw a significant increase, rising by over 200,000 tonnes to 740,000 tonnes in 2023, primarily from Singapore, Australia, and Japan. Exports were minimal and declined from 88,000 tonnes to 57,000 tonnes.

The Philippines saw a 13% rise in scrap demand, reaching 2.1 million tonnes, driven by a surge in domestic billet production. Imports nearly doubled to meet this higher demand, while exports fell significantly by 25% to below 100,000 tonnes, with most exports directed to other Asian countries.

Singapore experienced a notable decline in billet production, falling to below half a million tonnes in 2023. Consequently, scrap demand dropped by 15% to 516,000 tonnes. Despite this, Singapore remained a net exporter of scrap, with exports increasing by 8.5% to 782,000 tonnes, while imports halved to below 100,000 tonnes, mainly going to other ASEAN nations.

Thailand reported a 6.1% decrease in total scrap demand, totaling 5.5 million tonnes, reflecting a 6.6% decline in semi-finished steel production. Domestic scrap supply increased by 4.5% to 4.7 million tonnes, while imports dropped significantly from 1.7 million tonnes in 2022 to 1.3 million tonnes in 2023. Major import sources included the USA, Australia, Japan, and Panama. Scrap exports surged by 56% to 560,000 tonnes, with key destinations being Bangladesh, China, India, and Indonesia.

Vietnam saw a 4.2% decline in scrap demand, amounting to 8.9 million tonnes in 2023. Domestic supply fell by 11% to 4.8 million tonnes, whereas imports rose by 5.3% to 4.2 million tonnes, with significant contributions from Japan, Hong Kong, Australia, and Singapore. Scrap exports remained below 100,000 tonnes.

In summary, Indonesia, Malaysia, and the Philippines experienced positive growth in scrap demand, correlating with increased semi-finished steel production. Conversely, Thailand and Vietnam saw declines in scrap demand due to reduced semi-finished steel output. Singapore's significant drop in billet production underscored a slowdown in its steel industry.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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