A strong increase in demand for steel from the ASEAN countries is expected after their integration into the economic union

After the start of the Asian financial crisis in 1977, the demand for steel in the countries of ASEAN fell from a high level of 33 million 600 thousand tons in 1996 almost doubles to only 19 million 500 thousand tons in 1998. After that, the region recovered from the blow in four years and returned to the pre -crisis level of consumption.

Nevertheless, the recent global financial crisis, which began in 2008, led to 11% of the drop in demand for steel in ASEAN in 2009 and then the demand for steel in the region was restored very quickly. In fact, steel consumption in the ASEAN grew a total of 10.7% from 2009 to 2012 and, as expected, will continue to grow over the next few years.

After the integration of ASEAN into the Economic Community (ASEAN ECONOMIC Community (AEC)) in 2015, the demand for steel in the region is expected to receive a new impetus to the implementation of various infrastructure projects to modernize transport messages in the ASEAN.

ASEAN participants imported states in 2012 in a total of 37 million tons of steel products. Approximately 80 - 90% of the total import of imports was the import of metal rolling, intended mainly for construction and shipbuilding.

In the future, ASEAN can replace about 47% of the total imports of steel of its own production when investing in more advanced metallurgical technologies. In this case, the production of steel semi -finished products in ASEAN has a potential for an increase by 55% in annual calculus, long -term rental by 30% annually and sheet steel by 163%

The current plans to expand metallurgical production in ASEAN will lead to the fact that in 2014 the production of steel semi -finished products will reach 51 million tons per year, varietal steel - 49 million tons and sheet metal rolling - 43 million tons per year. Meanwhile, the demand for steel from the construction sector after the AEC will increase by an order of magnitude and issue of the ability of the region’s metallurgy to satisfy the growing need for reinforcement, channel and beams remains open.

ASEAN leaders decided to unite in the Economic Union in the 13th Summit of ASEAN countries on November 20, 2007 in Singapore, where a general integration plan was agreed until 2015.