Russia-Ukraine Conflict Pushes Thai Demand For Steel to 19M Tons

[snoop1130]

 

BANGKOK (NNT) - Nava Chantanasurakon, CEO of Sahaviriya Steel Industries (SSI) Public Company Limited, said Russia and Ukraine export 58 million tons of steel products. Respectively, Russia and Ukraine contribute to 8% and 4% of the world’s steel exports.

 

Nava speculated that the prolonged armed conflict between the two nations will diminish a large part of the global steel supply, which will lead to a price surge. The war will also affect the prices of energy and logistics.

 

The Office of Industrial Economics earlier projected the demand for steel in Thailand’s industrial sector this year could reach 19 million metric tons, a 5% increase from last year.

 

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Factors contributing to the rising demand include the state’s infrastructure projects, and promotional initiatives in the industrial sector.

 

The office estimates the world’s steel consumption this year will increase 2.2% at 1.9 billion tons, with China being the biggest consumer at 985 million tons.

 

Last year, Thailand consumed 18.64 million tons of steel, an increase of 12.8% from 2020. Only 5.6% of steel in Thailand was locally manufactured, said the office.

 

-- © Copyright NNT 2022-03-17

 

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[starky]

So war profiteering is a cause for celebration in Thailand?

[hotchilli]

11 hours ago, starky said:

So war profiteering is a cause for celebration in Thailand?

When anarchy reigns money is made.

[Cake Monster]

15 hours ago, snoop1130 said:

BANGKOK (NNT) - Nava Chantanasurakon, CEO of Sahaviriya Steel Industries (SSI) Public Company Limited, said Russia and Ukraine export 58 million tons of steel products. Respectively, Russia and Ukraine contribute to 8% and 4% of the world’s steel exports.

 

Nava speculated that the prolonged armed conflict between the two nations will diminish a large part of the global steel supply, which will lead to a price surge. The war will also affect the prices of energy and logistics.

So a huge projected 12 % possible reduction in the amount of Steel on the World Market.

12 % is only a small amount.

Most of this small amount will be taken up by other producers Globally.

Sounds like a fella who makes a statement such as this to ramp up his upcoming Company prices

[Berkshire]

14 hours ago, starky said:

So war profiteering is a cause for celebration in Thailand?

I don't think you understand the true meaning of "war profiteering."  By your definition, pretty much every country (except Russia and Ukraine) are war profiteering.

[starky]

9 hours ago, Berkshire said:

I don't think you understand the true meaning of "war profiteering."  By your definition, pretty much every country (except Russia and Ukraine) are war profiteering.

Yes. We are in agreement . Sarcasm hard to convey in text. We all know who profits most from war and war mongering. Cheers. 

Edited March 18, 2022 by starky