The Grey Chronicles

2008.August.14

ASEAN Steel Trade


IISI, SEAISI)

Figure 20: ASEAN Imports of Semi- and Finished Steel, 1991-2004 (Data: IISI, SEAISI)


Figure 20: ASEAN Imports of Semi- and Finished Steel, 1991-2004 (Data: IISI, SEAISI)

Most ASEAN members imported semi-finished and finished steel from various parts of the world then processed these semi-finished steel to augment the domestic finished steel market.

Figure 20 illustrates that most ASEAN member-nations endured a slump in imported semi-finished and finished steel during the Asian Financial Crises, except for Viet Nam and Myanmar. Moreover, there was a resumption of steel importation thereafter that slump. Interestingly, Indonesia only belatedly continued steel importation in 2000, while Singapore had yet to recover.


IISI, SEAISI)

Figure 21: ASEAN Exports of Semi- and Finished Steel, 1991-2004 (Data: IISI, SEAISI)


Figure 21: ASEAN Exports of Semi- and Finished Steel, 1991-2004
(Data: IISI, SEAISI)

ASEAN member-nations also exported semi-finished and finished steel to the rest of the world. During the 1997-1998 Asian Financial Crises, however, there was a tendency to dump these steel to other countries, thus exportation increased. Interestingly, Figure 21, only Singapore’s exports fell during the Crises and have yet to recover. Both the Philippines and Vietnam have a small steel export inclination, which would pick-up only beginning 2002.


SEAISI, IISI, PISI)

Figure 22: Exports as a Percentage of ASEAN Steel Production (Data: SEAISI, IISI, PISI)


Figure 22: Exports as a Percentage of ASEAN Steel Production
(Data: SEAISI, IISI, PISI)

In contrast to the world scenario, in the ASEAN region, shown in Figure 22, exports picked-up during the 1997-1998 Asian Financial Crises, however, it never regained that high level even until 2002 although production continued to increase. The increase in exports was due to the apparent need of steel mills to unload products anticipating for a global economic slowdown, as noted above, which unfortunately never yet came true.

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