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Thailand's domestic steel demand in 2023 is expected to be weak: Steel producers are worried

Chaichalerm Bunyanuwat, president of the EAF Long Product Steel Producers Association, said that the expected steel demand in Thailand this year to be around 16 million tons, similar to last year.

Thailand's domestic steel demand in 2023 is expected to be weak: Steel producers are worried

The researches state Thailand's domestic steel demand remains quite weak. There is a possible dumping of low-priced steel products from other countries. The main reason behind this problem is the slow progress of the government's infrastructure construction projects. There is also weak consumer purchasing power and high household debt as well. The positive factors that could increase the steel demand have not yet been experienced this year unfortunately.

Chaichalerm requested the newly formed Thai government's attention to take the necessary measures to prevent the entry of the cheap foreign steel into the Thai market. Especially after the trial activities of the EU's Carbon Border Adjustment Mechanism (CBAM) in October this year the measures are of great importance.


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