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The following article was published in our article directory on September 3, 2010.
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ASEAN steel market developments and prospects

Article Category: Business

Author Name: Amanda xzh

2010 - 2015, the ASEAN countries, steel demand is estimated at 6% average annual growth rate of total increase of 36 million tons, which will be Vietnam's fastest growing steel. 2010, South-East Asia steel consumption was about 64.2 million tons, according to the ratio of the average 6.5% increase in 2015 to 82.8 million tons. 2010, demand for 36.9 million tons plates, as 48.1 million tons in 2015, average annual growth of 6.4%.

The next 5 years, steel consumption in Southeast Asia will also have a significant structural change, due to local production of automobiles and household appliances increased the proportion of increased consumption driven plate. Type of view from the steel, paper consumption in Southeast Asia the proportion of hot-rolled down to 36.8% from 44.1%, coated sheet is increased to 24.1% from 17.3. Packaging galvanized plate, color coating and other coating plates coated board, including average annual demand growth rate will reach 9.1% over the same period increase of 4.9% of hot rolled coil.

Expected future market demand for steel growth of ASEAN, but mainly in Vietnam, Thailand, Malaysia, Indonesia, Philippines and Singapore. Vietnam, the fastest growth in steel consumption. Southeast Asia as the world's second-largest net importer of steel market supply and demand balance in the global steel market plays a key role.

1. Vietnam's steel industry overview

Vietnam's steel industry in the 20th century 50 - 60 years in China, with the assistance of developed, established in 1959 and Taiyuan Iron and Steel Company started construction of ¬ iron and steel plant, built in 1963 production. This stage, Vietnam has 5,000 tons of production capacity in more than 50 years of business, including 12 steel rolling production lines, production capacity of 100,000 tons - 30. Small iron and steel enterprises in Vietnam, more than 500,000 tons annual output of only three companies, located north of Taiyuan Iron and Steel Company and is located in the south Southern Iron and Steel Company and POMINA company.

2. Vietnam Steel Apparent Consumption

With the economy by average annual 7% - 8% growth rate, Vietnam's domestic infrastructure such as highways, railways, ports, airports and city facilities such as airport construction in full swing. February 2009, Hanoi to Ho Chi Minh City in Vietnam decided to build the full length of 1,555 km of high speed rail investment 55.7 billion U.S. dollars, is expected to be completed in 2035 across the board. In addition, Viet Nam to develop the shipbuilding industry, by 2015 the world's fourth largest shipbuilding country, and now Vietnam imports nearly all of steel shipbuilding.

Vietnam now has 11 joint-venture auto plant, with a total design capacity of 150,000 / year, automotive steel products imported mainly from Japan and South Korea. Development plan in accordance with Vietnam, 2011 - 2020 years, the average growth rate of Vietnam's total vehicle of 8%. On this basis, by 2010, Vietnam's car ownership will reach 1.2 million by 2020 will reach 2.62 million.

3. Vietnam's steel industry development goals

Vietnam's steel industry, according to the official introduction of the strategic development plan, the Vietnamese steel industry's development objective is not only to meet national economic development by a large demand for steel products, also plans to export steel products to neighboring countries. Specific objectives are: production of pig iron in 2010 1.5 million - 190 million tons of steel billet 3.5 million - 450 million tons of finished steel, 6.3 million - 650 million tons; 2015 production of pig iron 5 million 580 million tons of steel billet 6,000,000 - 800 million tons of finished steel, 11 million 1200 tons; production of pig iron 10 million in 2025- 1200 million tons of billet 12 million 1500 million tons of finished steel, 19 million - 2200 million tons (of which 200 000 t for the special steel). Vietnam's steel industry development planning in the development of strategic export target: by 2010 cast iron and steel export 500 000 -70 million tons of exports in 2025 will expand to 1.2 million 150 .

2007-2025 years, Vietnam will invest in six major steel projects: Ha Tinh steel plant (capacity 4.5 million tons / year), Rong orange steel plant (capacity 5 million tons / year), South Korea's Pohang Iron and Steel Company in Vietnam Namba to Vung Tau province invest in the construction of 1.2 million tons and 3 million tons cold rolled coil plant hot rolling plant, India's ESSA companies to invest 2 million tons / year high wire manufacturing plant, 1.5 million tons / year steel plant and Taiyuan Street iron and steel Plant Expansion Project.

According to the strategic development plan, 2007-2025 years, the Vietnamese steel industry need to invest 10 billion 120 million, of which 2007-2015 annual investment 8 billion U.S. dollars, 2015- 2025 years to re-invest 40 billion U.S. dollars. Time, Vietnam's crude steel production capacity will reach 25 million tons.

2008 - ¬ 2009 approved a number of steel in Vietnam investment projects, investment in overheated steel. In 2008, the Vietnamese Industry and Trade found that 32 new projects do not conform to the industrial development plan, in which 24 did not receive the approval of Industry and Trade in Vietnam.

In recent years, the excessive growth of steel industry in Vietnam, but lack the sustained development of capacity, and a threat to Vietnam's steel industry development strategy, the same time it energy, transport and the environment of Chansheng negative impact. Future investment projects in Vietnam's domestic steel industry to meet Vietnam's industrial development planning, including technology, equipment, production of the original ¬ materials, fuel, basic design and financial aspects. Implementation of the new requirement, the steel industry in Vietnam is expected to achieve sustainable development.

According to the forecast of Pohang, steel demand in 2015, the ASEAN will reach 75.8 million tons. More than 50% growth in 2007, of which Vietnam and Indonesia will experience rapid growth. ASEAN is still a major importer of steel products. 2008 total imports 42.8 million tons, of which 9.8 million tons of steel semi-finished products, profiles, bars and wire 6 million tons, 11.4 million tons of hot rolled sheet and strip, cold rolled products 4.6 million tons, coated sheet and strip 420 tons. Main sources of imports are Japan (24%), China (16%), Korea (8%), China Taiwan (7%). The future, ASEAN will be more competitive steel market incentives. Japan still working through its production and processing advantages to maintain its competitiveness in high-end market, South Korea through the ASEAN new capacity and processing capability to enhance competitiveness, and mainland China has a cost-competitive, and has a free trade area advantage, ASEAN is trying to increase local self-sufficiency.

ASEAN steel industry faces four major challenges: First, low value-added product manufacturers, steel manufacturers ASEAN major steel producing low-profit goods, high-grade steel products still rely on imports, such as: automotive, home appliances, electronics products, flat products, used cars, long wood screws; Second, capacity planning, iron production capacity, Indonesia and Malaysia are the only two could produce direct reduced iron / hot iron country, steel production capacity, steel production capacity is far below the hot-rolled capacity, Malaysia is the only country billet overproduction; third heavily dependent on raw materials or scrap imports, only Vietnam and Indonesia, a vast iron ore; 4 is smaller steel makers, on the supply and demand less power.

ASEAN steel industry is facing change: the financial crisis facing the stagnation of the situation in the steel industry steel demand of ASEAN in the next 1-2 years to restore, to a long time, whether material or flat material demand will continue to grow. Construction industry is the largest steel consuming sectors, are projected from the economic stimulus package by benefit. When the manufacturing recovery, high demand for steel will be the largest steel market, ASEAN needs to gain more market share in China's enterprises, before the construction industry and create high value-added steel products. Non-tariff measures in the steel trade will play a greater role, especially in the down cycle.

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