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Thailand's finished steel output falls in February

In February, Thailand's Iron and Steel Institute reported that the country produced approximately 516,000 tons of finished steel, marking a decline of 13.9% compared to the previous year.

Thailand's finished steel output falls in February

In February, Thailand's Iron and Steel Institute reported that the country produced approximately 516,000 tons of finished steel, marking a decline of 13.9% compared to the previous year. Long product output amounted to roughly 335,000 tons, down by 12.7% year-on-year, while flat product production totaled about 182,000 tons, experiencing a 16% decrease over the same period.

During the same timeframe, Thailand's consumption of finished steel stood at 1.26 million tons, showing a slight decrease of 7.2% compared to the previous year. Notably, flat product consumption increased by 2.8% year-on-year, reaching 841,000 tons.

According to 2023 data, Thailand experienced a slight decrease of 0.4% in steel demand on an annual basis, reaching 16.33 million tons, and finished steel production decreased by 7% compared to the previous year, falling to 6.6 million tons. Although finished steel exports decreased by 0.6% to 1.5 million tons, finished steel imports increased by 4% on an annual basis and rose to 11.2 million tons.

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