US scrap exporters consider new business opportunities in Southeast Asia

摘要

US suppliers of ferrous scrap plan to strengthen their positions in Southeast Asia next year, in Indonesia and Malaysia in particular, considering the strong development of infrastructure which supports steel demand. Besides, the countries are already likely to expand the imports of scrap this year.The decision to expand scrap shipments to Indonesia is supported by 11% year-on-year growth of apparent steel consumption last year. The country increased the production of billet and slabs by 3.2% y-o-y and 19% y-o-y to 2.68 million t and 3.51 million t respectively last year. Moreover, based on a national economic growth of 5.17% and numerous construction projects being implemented, the national steel consumption is projected to grow by about 6% in 2019, according to the Indonesian Iron and Steel Industry Association.