Steel Consumption in Thailand to Increase in 2021
Bangkok Post reported that the Federation of Thai Industries Iron and Steel Industry Club said that Thailand’s domestic steel consumption is estimated to grow 5-8% in 2021, supported by the government's infrastructure investment projects. Steel Industry Club chairman Mr Nava Chantanasurakon said that government construction projects in the Eastern Economic Corridor, electric trains in Bangkok and other metropolitan areas as well as high-speed trains will benefit the steel industry.
The club expects the government will support local steel producers through the Made in Thailand policy and the local content scheme to help the industry.
However, FTI has raised concerns about global steel price changes due to demands growing from China, boosted by the pandemic and seeing China to import various types of steel to support economic growth.