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Southeast Asia will become the main driving force for the growth of global steel demand

Southeast Asia will become the main driving force for the growth of global steel demand

China Construction machinery information

director general of the International Steel Association Edwin Bassoon also said recently that as China's steel market matures and demand declines, the growth of global steel demand needs a new region to continue, just like the huge driving force shown by China in the past decade. The first is that Southeast Asia, including India, has such potential. The region has a large population and a global influence on economic scale. The second is central and northeast Africa, where the growth is very strong, which also makes the market of recycled plastic granulators more and more promising, but in terms of scale, it is not enough to promote global growth. Finally, Africa also has potential growth influence

the Southeast Asian Steel Association predicts that the steel consumption of the six ASEAN countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, will increase by 7% to 8% in 2015 compared with last year, and then maintain an annual growth rate of 4% to 5%

in 2014, the apparent steel consumption of the six ASEAN countries was 67.1 million tons, an increase of 6.3% over 2013. China's steel exports to these countries were 23.95 million tons, a significant increase of 50.3%. China has become a major steel supplier to ASEAN countries in the past two years. In 2014, imports from China accounted for 48% of total imports, and in 2013 accounted for 29%. Before 2012, Japan has been the main steel supplier in the region for strain system inspection. In 2014 and 2013, steel imports from Japan accounted for 25% and 24% of the total imports of the region. In 2014, Vietnam was the country with the largest steel imports in China, with an import volume of 6.58 million tons, the Philippines 4.76 million tons, Thailand 3.66 million tons, Indonesia 3.38 million tons, Singapore 3.15 million tons and Malaysia 2.42 million tons

India is still developing. The new government's commitment to building a global manufacturing center will bring great opportunities to the domestic steel industry, and steel production and steel consumption will grow rapidly. It is expected that next year, we will have an in-depth understanding of the challenges customers face in their daily work, and steel demand will increase by 8%-9%. The Indian Federal Ministry of steel and mining has the characteristics of simple operation. Tomar recently said that India plans to invest about 2.94 trillion rupees (US $46.13 billion) in the next 10 years to boost the country's steel production capacity. By 2025, India's steel production target is to increase from the current 88 million tons to 300 million tons

the Indian government has approved a plan, even if three state-owned enterprises, Indian iron and steel authority, Visakhapatnam steel company and state-owned mining company, cooperate with the local governments of Jharkhand, Chhattisgarh, Orissa and Karnataka to build four new steel plants in the next few years, each with an annual capacity of up to 6million tons and an investment of about 1.44 trillion rupees (US $22.6 billion). Sail, Tata Steel, JSW and other steel plants continue to promote capacity expansion. At present, there is no steel plant to reduce the expansion plan

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