CONF: Thailand’s Q1 steel consumption down 1.3%
Jul 03, 2020 15:45
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Apparent steel demand in Thailand weakened by 1.3% on year in the first quarter of 2020 from the impact of COVID-19, Wirote Rotewatanachai, president of the Iron and Steel Institute of Thailand, shared at the 2020 SEAISI e-Conference on July 2. The Q1 dip in apparent steel consumption to 4.4 million tonnes followed on from the softening of steel use in 2019, principally from the slowing growth in construction, he observed.
Given the negative effect from the pandemic, construction and automobile industries – Thailand two most important steel using sectors contributing to 58% and 22% of the country’s total steel demand – saw significant declines in growth in this year’s first quarter, according to him.
In Q1, construction sector growth was a