Thailand's billet imports drop significantly

According to statistics from the Iron and Steel Institute of Thailand (ISIT), Thailand imported around 70,400 tons of billet in the first two months of this year, falling by 60.6% compared to the same period a year ago.

The significant decrease in imports was mainly due to weak demand and high prices. The January-February average import price was 29.7% higher than that in the same period last year.

Among them, the imports from Oman accounted for roughly 33,600 tons, plummeting by 75.2% year on year.

In February alone, the imports totaled around 31,800 tons, sharply dropping by 81.2% from the same month a year earlier. The average import price this February was up by 27.5% year on year.