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The rise of the Southeast Asian steel industry

The rise of the Southeast Asian steel industry
Issue Time:2018-11-08

The economies of Southeast Asian countries started relativelylate, and the economic base was generally weak, especially the development ofthe steel industry lags behind. In recent years, with the deepening of economicglobalization and the continuous adjustment of the division of labor in the globalindustrial chain, the cheap human resources and other factors in Southeast Asiahave attracted a large number of investments, which has accelerated theindustrialization process in the region and led to the continuous growth ofsteel demand.

Although the economic development in Southeast Asia isrelatively late and the economic base is generally weak, with the deepening ofeconomic globalization and the continuous adjustment of the division of laborin the global industrial chain, Southeast Asia is accelerating the process ofindustrialization, and steel demand is growing, which means the future steelproducts of Southeast Asian countries. There is a lot of room for growth inconsumption.

At present, the development of the steel industry inSoutheast Asia is lagging behind, and the imbalance of the structure of thesteel industry chain is more serious. In order to make up for the gap indomestic production capacity, the demand for imports from Southeast Asia isincreasing.

In summary, there is huge room for future steel demand growthin Southeast Asia. The expansion of local steel capacity has strengthened thetrend of steel self-sufficiency in Southeast Asia. In particular, thecontinuous release of Vietnam's Formosa River static capacity will change thesteel in Vietnam and even Southeast Asia. Production layout. The new blastfurnace capacity will lead to an increase in the global demand for iron ore andcoking coal; on the other hand, it will also have an impact on China's steelexports.

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