DIT dismisses claims of steel shortages

BANGKOK, 11 May 2016 (NNT) - The Department of Internal Trade (DIT) has assured sufficient steel supplies in Thailand, despite higher prices.

DIT Director-General Wiboonlak Ruamrak visited a steel store in Bang Yai district, following concerns over its supplies. She was told that steel manufacturers would easily be able to increase their steel output to meet higher demand.

The department head dismissed rumors of steel shortages, claiming that Thailand's higher steel prices were brought on by China's efforts to regulate the industry and close several substandard manufacturers. The fall in production has also prompted steel prices in Thailand to increase from around 17 baht per kilogram to 19 baht.

However, Ms. Wiboonlak urged vendors around Thailand that are planning to raise the prices of their steel products to first inform the DIT within seven days of the price hike. This would allow buyers to revise their purchasing plans accordingly. DIT officials will visit the stores to ensure fair trading.


-- NNT 2016-05-11

rumors of steel shortages

There might be some truth to that with the 8-15 highway, canal, bridge and rail projects approved by the junat government for 2016 alone. I wouldn't be surprised if there's rumors of concrete and asphalt shortages either. There's something to be said about time-phaising mega projects to minimize material shortages and causing inflation.

Apparently since the Chinese have exhausted their stock piles of iron ore they are having to replenish their stocks from Australia and the Ozzys are 'sticking it to them' on the price. I believe the Klingons have a saying ' revenge is a dish best served cold'. Good on you cobber!