Thailand: Ferrous Scrap Imports Rise 38% in Jan'18

Rising steel production in the country is resulting in increased scrap imports in Thailand.

Thailand-one of the emerging market in terms of the steel industry in Southeast Asia has witnessed a significant rise in its ferrous scrap imports in Jan'18. As per recently released customs data, Thailand imported 0.18 MnT ferrous scrap in Jan'18 which has surged by 38% Y-o-Y against 0.13 MnT imports in Jan'17.

Thailand imported 0.17 MnT ferrous scrap in Dec'17. On monthly premises, ferrous scrap imports increased marginally by 6% in Jan'18.

In 2017, Thailand witnessed five years highest ferrous scrap imports since 2013. Thailand imported 1.49 MnT ferrous scrap in CY17 which surged 66% Y-o-Y as against 0.90 MnT imports in CY16. While during fourth quarter of CY17, Thailand imported 0.47 MnT ferrous scrap which surged 161% as against 0.18 MnT ferrous scrap during the fourth quarter of CY16.

Thailand crude steel production increased 17% during 2017 - According to World Steel Association, crude steel production of Thailand has increased to 4.48 MnT during 2017 compared to 3.82 MnT in 2016. Thailand steel industry is majorly dominated by rolling mills and most of them make use of electric arc furnace route thus making the country a major scrap consumer. Few of the major steel producers in Thailand include G Steel, Tata Steel Thailand, Sahaviriya Steel Industries PLC.

United States remained the largest supplier of ferrous scrap to Thailand -

In Jan'18, United States supplied highest 0.06 MnT ferrous scrap occupying 33% share in total ferrous scrap imports to Thailand. Australia remained second-largest scrap supplier to Thailand supplying 0.03 MnT of ferrous scrap in Jan'18. Major exporters like China, Japan and Philippines witnessed nil exports to Thailand while in Jan'18 UAE, Myanmar and Trinidad & Tobago exported 0.01 MnT ferrous scrap each.

In CY17, out of 1.49 MnT ferrous scrap imported to Thailand, United States remained highest exporter (0.51 MnT, +65% Y-o-Y) followed by China (0.16 MnT, +700% Y-o-Y), Australia (0.10 MnT, +11% Y-o-Y), Philippines (0.07 MnT, +40% Y-o-Y) and Japan (0.04 MnT) respectively.

In CY17, China emerged as the second largest exporter of ferrous scrap to Thailand. Chinese scrap exports hiked almost eight times against in CY16 over the closure of obsolete induction furnaces which reflected back into increasing scrap exports from China in 2017.China supplied 0.16 MnT in 2017 as against 0.02 MnT exports to Thailand in 2016.

Country-wise Thailand ferrous scrap imports -

Quantity in MnT,
Source: SteelMint Stats