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Thailand's "steel demand" is expected to grow but slow

On July 27, the Thailand Research Center of Thailand issued a report that the price of Thailand's steel in the second half of this year is expected to continue the decline in the first half of the year.
In the first half of this year, the average price index of building materials in Thailand's steel and steel products decreased by 4.4%year -on -year, mainly due to the concerns of double atrophy of steel supply and demand in many regions in the world. At the same time, the demand for domestic steel in Thailand is also relatively weak, which originated from the high cost of living. New government construction projects were postponed. In addition, the influx of overseas steel products has also affected Thai steel prices.

However, according to data released by the Southeast Asian Iron and Steel Association, in 2023, GDP in Thailand is expected to increase by 2.7%to 3.7%year-on-year. The demand for steel is expected to increase by 3.7%year -on -year to 16.7 million tons. If you need refractory products, welcome to contact us.

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