Thailand Steel Import Statistics: Q1 CY19

Commodity wise-  Rebar imports were registered at 0.16 MnT in Q1 CY19, fall by 23.8% against 0.21 MnT in Q4 CY18, followed by Wire rod at 0.05 MnT in Q1 CY19, surged by 25% as compared to 0.04 MnT in Q4 CY18 & Structure stood at 0.02 MnT in Q1 CY19.

Load Country Wise- The major imports of Finish Long Steel in Q1 CY19 registered through Japan at 0.08 MnT, down by 20% against 0.1 MnT in Q4 CY18 followed by China – 0.04 MnT in Q1 CY19, surged by 33% against 0.03 MnT in Q4 CY18 and South Korea – 0.02 MnT diminished by 33% against 0.03 MnT in Q4 CY18.

Ferrous Scrap:- Thailand's ferrous scrap imports drop 46% in Q1 CY19 - The country imported 0.21 MnT ferrous scrap in Q1-2019 down 46% Q-o-Q against 0.39 MnT in Q4 CY18, while imports almost halved against 0.41 MnT in Q1 CY18. In line monthly premises, scrap imports hit more than 2 years low to 37,106 MT in Mar'19, significantly down by 47% against 69,601 MT in Feb'19.

Country wise- Panama & New Zealand remained top suppliers with 0.3 MnT each in Q1 CY19 followed by Costa Rica, Dominican Republic and Trinidad & Tobago supplying 0.2 MnT ferrous scrap during Q1 CY19. US observed sharp fall in scrap bookings from Thailand in Q1 CY19 on a quarterly basis.

Thailand's steel industry is dominated by around 20 major rolling mills which rely heavily on imports of semi-finished and finished products. The sharp rise in semi-finish imports, almost stable finished steel imports while high input cost for EAF makers seems to have resulted in the lowering of scrap imports in Q1 CY19.

Semi-Finish:- Semi-Finish imports registered at 1.1 MnT which is being enlarged by 86% in Q1 CY19 against 0.59 MnT in Q4 CY18. Further, on yearly basis imports registered a gain of 52% against 0.23 MnT in Q1 CY19. Meanwhile on monthly premises imports stood at 0.35 MnT in Mar’19, surged by 40% as compared to Feb’19.

Country wise- Russia stood as largest exporter to Thailand with 0.30 MnT in Q1 CY19, surged by 20% against 0.25 MnT in Q1 CY18 followed by Iran at 0.17 MnT Q1 CY19 which observed mammoth growth with 325% against to 0.04 MnT in Q4’18, however total volume of Q4 CY19 registered in Dec’18 itself.

Flat Steel:- Thailand flat steel imports decrease by 7% Q-o-Q in Q1 CY19- Country’s Flat steel imports fell by 7% to 2.01 MnT in Q1 CY19 which was 2.15 MnT in Q4 CY18. While on monthly premises, Thailand's flat steel imports fell by 4% in Mar’19 to 0.64 MnT in comparison to 0.67 in the preceding month.

Japan is the major exporter to Thailand reported robust local demand in the construction and manufacturing industries. As per Japan's Ministry of Economy, Trade and Industry, Japanese steelmakers are enjoying healthy demand from the construction sector amid higher public spending to build stronger infrastructure and to mitigate damage from disasters.

Thus, this results to lower imports volumes to Thailand in Jan - Mar quarter. Whereas year on year basis, the nation’s flat steel imports witnessed a decline of 7% in Mar’19 against 0.69 MnT in Mar’18.

Country wise- Imports in Q1 CY19 - Thailand majorly imports flat steel from Japan which accounts for 0.96 MnT in Q1 CY’19, plunged by 18% against 1.17 MnT in the previous quarter.

Following this Thailand also import flat steel from China at 0.48 MnT, South Korea 0.36 MnT, Taiwan 0.07 MnT and Vietnam 0.04 MnT in the first quarter. Meanwhile country imported flat steel from other nations like Australia, India, Indonesia and Spain in smaller quantities during the quarter.