According to the Southeast Asia Iron and Steel Institute (SEAISI) Steel Demand Forecast, we hope that due to the recovery of construction activities, the demand for SEAISI steel may increase again in the next two years.
It is estimated that infrastructure construction projects in the region will develop rapidly, so the demand for steel should be sustainable. Meanwhile, it was also believed that the global economic depression is currently having less of an impact on Southeast Asia than on other regions of the world.
In April, the World Steel Association (worldsteel) estimated that demand for steel from the five SEAISI members will grow by 4.8% year on year in 2022, reaching 76.1 million tons, and in 2023 it could increase by another 6.1 % to 80.8 million tons.
