South East Asia Iron & Steel Institute has announced that steel consumption in ASEAN registered 41.7 million tonnes, down by 9.6% YoY. However, in terms of steel use in the 10 countries, ASEAN's share surged from 22% in 2008 to 26% in 2009.
Among the ASEAN countries, Thailand's steel consumption registered a significant decline of 20% YoY to 10.75 million tonnes in 2009. However, Thailand remained the top steel consuming country in ASEAN.
Vietnam was the only country in the group that experienced a positive growth in steel consumption in 2009. The country's steel use surged by 30% YoY to 10.6 million tonnes, almost on par with Thailand.
Indonesia and Malaysia's steel consumption declined significantly by 16% and 20% to 7.4 million tonnes and 6.6 million tonnes, respectively.
Singapore's consumption of 2.8 million tonnes in 2009 was a significant decline by 23% YoY.
Steel consumption in Philippines, on the other hand, was least affected by the global economic meltdown, with a marginal decline of 1.2% to 3.5 million tonnes.