CONF: Thailand steel consumption may grow 4.7% in 2021

For 2021, Thailand’s finished steel consumption may grow 4.7% on year to over 17.1-17.4 million tonnes with a possible 1.5-2.5% on-year gain in its gross domestic product (GDP), Wirote Rotewatanachai, president of the Iron and Steel Institute of Thailand, shared at the SEAISI 50th Anniversary e-Conference & Exhibition on June 17.

A positive growth will be a change of trend from a 6.1% on-year fall in 2020, just as the many other countries thanks to the government spending and low base for last year, even though for the first quarter of 2021, the country’s GDP still declined 2.6% on year, he admitted, For this year,