CONF: ASEAN could be net steel exporter in 5-10 years

The ASEAN region could become a net exporter of steel products within the next five to ten years as the potential for over-capacity in the region could tilt the balance of steel fundamentals, Matthew Poole, the Divisional Director of CRU Consulting, said on the 2019 SEAISI Conference & Exhibition held in Bangkok, Thailand on June 17.

Some 52 million tonnes/year of crude steel capacity could potentially come on stream in ASEAN over the coming five years, mainly in Indonesia and Vietnam, he disclosed. The ASEAN region groups ten member states including Singapore, Laos and Brunei, Mysteel notes. “Southeast Asia will account for 20% of global growth