Thailand's finished steel output falls in February

In February, Thailand's Iron and Steel Institute reported that the country produced approximately 516,000 tons of finished steel, marking a decline of 13.9% compared to the previous year. Long product output amounted to roughly 335,000 tons, down by 12.7% year-on-year, while flat product production totaled about 182,000 tons, experiencing a 16% decrease over the same period.

During the same timeframe, Thailand's consumption of finished steel stood at 1.26 million tons, showing a slight decrease of 7.2% compared to the previous year. Notably, flat product consumption increased by 2.8% year-on-year, reaching 841,000 tons.

According to 2023 data, Thailand experienced a slight decrease of 0.4% in steel demand on an annual basis, reaching 16.33 million tons, and finished steel production decreased by 7% compared to the previous year, falling to 6.6 million tons. Although finished steel exports decreased by 0.6% to 1.5 million tons, finished steel imports increased by 4% on an annual basis and rose to 11.2 million tons.