As supply and demand for construction steel were not fully matched across different markets, regional supply-demand mismatches created price differentiation, which in turn drove the cross-regional circulation of steel resources. When the regional price spread gradient was appropriate, regions with surplus construction steel capacity and production often shipped excess resources out, thereby rebalancing construction steel resources across regions.

March planned rebar production was 7.9565 million mt, an increase of 923,500 mt from February’s actual production, up 13.13%. March planned wire rod production was 3.1036 million mt, an increase of 466,300 mt from February’s actual production, up 17.68%. In March, the long steel export schedule for sample steel mills was 712,000 mt, an increase of 137,000 mt MoM; of which the steel billet export schedule was 270,000 mt, down 23,000 mt MoM.

March planned rebar production was 7.9565 million mt, an increase of 923,500 mt from February’s actual production, up 13.13%. March planned wire rod production was 3.1036 million mt, an increase of 466,300 mt from February’s actual production, up 17.68%. In March, the long steel export schedule for sample steel mills was 712,000 mt, an increase of 137,000 mt MoM; of which the steel billet export schedule was 270,000 mt, down 23,000 mt MoM.

On May 19, Thailand’s BOI introduced four measures to support local firms facing U.S. tariffs.

According to China News Service, Naris Chaisuree, Secretary General of the Thailand Board of Investment (BOI), told the media on the 19th that the BOI had launched four new measures aimed at enhancing the competitiveness of small and medium-sized enterprises (SMEs) in Thailand, mitigating risks arising from US trade policies, and integrating Thai enterprises into the global supply chain. These measures include discontinuing investment incentives for industries facing potential supply surplus or trade-related risks. Additionally, incentives for the steel manufacturing industry will also be abolished, including those for long steel products, hot-rolled steel plates, thick steel plates, and various steel pipes.

[Steel Mill Maintenance] On March 29, Ningxia Jianlong Steel conducted maintenance on a 1,280 m³ blast furnace, which is expected to last for 11 days. The maintenance is anticipated to affect pig iron production by approximately 3,000 mt per day. [SMM Steel]

According to a survey by the World Steel Association (WSA), the main reasons for the consistently low steel capacity utilisation rate in Thailand are due to the reliability, efficiency, and cost of steel mill production. In 2024, the local steel capacity utilisation rate in Thailand was less than 30%, still requiring a large amount of imports to meet domestic steel demand, placing the country in a net import position. At the same time, the absolute value of per capita crude steel consumption in Thailand remains at a relatively low level, with significant room for growth. The local crude steel capacity utilisation rate is low, and in January 2025, the Board of Investment (BOI) of Thailand announced the latest version of the investment promotion guidelines, stating that applications for new long and flat steel product projects would be cancelled, allowing only existing projects to apply for investment incentives based on smart and sustainable industrial standards. Moreover, the incentive levels were uniformly adjusted from the previous A4 or B grade to B grade, reflecting the difficulty in increasing new steel capacity. Therefore, although some anti-dumping investigations have been initiated, the status as a net importer may be hard to change in the short term...

According to the statistics released by the World Steel Association, Thailand's crude steel production in 2024 was 4.918 million mt, down 1.17 YoY, ranking 27th in the world and fourth among ASEAN countries, following Vietnam, Indonesia, and Malaysia...

According to the survey by the World Steel Association (WSA), the main reasons for Thailand's consistently low steel capacity utilisation rate are the reliability, efficiency, and cost of steel mill production. In 2024, Thailand's domestic steel capacity utilisation rate was less than 30%, requiring substantial imports to meet domestic steel demand, leaving the country in a net import position. Meanwhile, Thailand's per capita crude steel consumption remains at an absolutely low level, indicating significant growth potential. However, the local crude steel capacity utilisation rate is relatively low. Additionally, in January 2025, the Thailand Board of Investment (BOI) announced the latest investment promotion guide, which stated that applications for new projects involving long and flat steel products would no longer be accepted. Only existing projects meeting smart and sustainable industrial standards are eligible for investment incentives, and the incentive level has been uniformly downgraded from A4 or B in the previous guide to B. This reflects the difficulty in increasing new steel capacity. Therefore, although some anti-dumping investigations have been initiated, the status of being a net importing country may be difficult to change in the short term...

According to statistics released by the World Steel Association, Thailand's crude steel production in 2024 was 4.918 million mt, down 1.17% YoY, ranking 27th in the world. Among ASEAN countries, it ranked fourth, behind Vietnam, Indonesia, and Malaysia...