Indonesia
Demand Growth: Strong demand growth of 10.7% in 2023, reaching 18.5 million tonnes.
Domestic Supply: Supported by domestic supply with an 8.5% decline in imports to 1.1 million tonnes.
Major Import Sources: Australia, Hong Kong, and Singapore.
Malaysia
Domestic Supply: Domestic scrap supply at 4.3 million tonnes, a 1.1% decrease year-on-year.
Import Increase: Significant increase in imports by over 200,000 tonnes to 740,000 tonnes, mainly from Singapore, Australia, and Japan.
Export Decline: Exports reduced from 88,000 tonnes to 57,000 tonnes.
Philippines
Demand Growth: Scrap steel demand grew by 13% to 2.1 million tonnes.
Export Decline: Exports dropped by 25% to below 10,000 tonnes, mainly to other Asian countries.
Singapore
Production Decline: Steel billet production fell to below 50,000 tonnes in 2023.
Demand Decline: Scrap steel demand decreased by 15% to 516,000 tonnes.
Export Increase: Singapore remains a net exporter of scrap steel, with exports increasing by 8.5% to 782,000 tonnes and imports halving to below 100,000 tonnes, primarily to other ASEAN countries.
Thailand
Demand Decline: Total scrap steel demand fell by 6.1% to 5.5 million tonnes.
Production Decline: Semi-finished steel production declined by 6.6%.
Domestic Supply: Domestic scrap supply increased by 4.5% to 4.7 million tonnes.
Import Decline: Imports significantly decreased from 1.7 million tonnes in 2022 to 1.3 million tonnes in 2023. Major import sources include the USA, Australia, Japan, and Panama.
Export Increase: Exports surged by 56% to 560,000 tonnes, mainly to Bangladesh, China, India, and Indonesia.
Vietnam
Demand Decline: Scrap steel demand decreased by 4.2% to 8.9 million tonnes in 2023.
Domestic Supply: Domestic supply dropped by 11% to 4.8 million tonnes.
Import Increase: Imports grew by 5.3% to 420,000 tonnes, with sources from Japan, Hong Kong, Australia, and Singapore.
Low Export: Exports remained below 10,000 tonnes.
Summary
Growth in Demand: Indonesia, Malaysia, and the Philippines saw positive growth in scrap steel demand, associated with increased semi-finished steel production.
Decline in Demand: Thailand and Vietnam experienced reduced scrap steel demand due to a decrease in semi-finished steel demand.
Significant Production Changes: Singapore’s notable decline in steel billet production highlights a slowdown in its steel industry.