ASEAN's 2019/2020 scrap needs to grow amid steel glut concerns

摘要

Scrap demand in the Association of Southeast Asian Nations, or ASEAN, is expected to grow in 2019/2020 despite market concerns of overcapacity, as steel production and exports grew in 2018, led by Vietnam. Data released by the South East Asian Iron and Steel Institute, or SEAISI, showed a 7% year on year rise in scrap demand at 28.6 million mt in 2018. Among the ASEAN member countries, Vietnam took the lead with a 6.5% on the year rise to 9.4 million mt, which accounted for about 32.9% of overall demand. The country's scrap imports grew 15% to 5.07 million mt, offsetting a 4.5% fall in domestic supply to 4.4 million mt. Its 2018 scrap exports fell by more than half to 86,400 mt as local production rose.