Thai Steel Industry Growth Expected To Be 10% This Year

[Jai Dee]

Federation of Thai Industries expects steel industry to expand 10% this year, down from last year's 12% growth

The Federation of Thai Industries expects the steel industry to expand as much as 10% this year, and reach a total value of 280 billion baht.

Mr. Phiboonsak Atthabowornphisarn (พิบูลศักดิ์ อรรถบวรพิศาล), the head of the steel industries group within the Federation of Thai Industries, said the 10% expansion expected this year would be less than last year's 12% growth, due to high competition.

The domestic demand for steel is expected to stabilize over the first half of this year but demand is predicted to rise over the latter half due to the start of the government's megaprojects.

This year the steel industry must face several risk factors, comprising high oil price and the increased interest rate. Operators are being told to reduce costs, increase production efficiency, as well as increase exports.

Source: Thai National News Bureau Public Relations Department - 07 Febuary 2006