SE Asian steel industry braces for increased competition as new hot-rolling mills open

Source: Steelmint May 20, 2024 10:00

The Southeast Asian steel industry is poised for a significant increase in production capacity with the upcoming launch of several new hot-rolling mills. These facilities, located in Indonesia, Malaysia, and Vietnam, are expected to collectively add 10 million tonnes (mnt) of annual production by the end of 2024. This surge in capacity raises concerns about intensifying competition in the region, particularly for Japanese steel exporters who currently hold a dominant market share.

Indonesia: Tokushin Steel, a Chinese-operated integrated steel mill in Indonesia, is scheduled to launch a new hot-rolling mill with a 4 mnt annual capacity in June 2024. This expansion will allow the company to enter the hot coil market, potentially exporting half of its production. Malaysia: Eastern Steel Co., Ltd., a subsidiary

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