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Thailand Steel Industry Report - 2015

  • December 2015
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 32 pages

This report profiles Thailand's steel industry, discussing market trends and outlook through 2014 and into 2015 and beyond. The report also highlights key leading players in the sector including Sahaviriya Steel Industries PCL, G Steel PCL and Tata Steel (Thailand) PCL.

Thailand's steel industry was impacted by the global economic slowdown and sluggish business sentiment, causing the GDP y/y growth to decelerate to 0.7% in 2014 with likely recovery to 2.9% in 2015. Domestic steel sector saw lower levels of activity as a result of a delay in key investment projects and slow pace of government's budget disbursement.

Local steel consumption contracted by 1.6% to 17.3mn tonnes in 2014, due to a contraction in most-steel consuming sectors, especially construction and automotive. Thailand, the top steel consuming country in ASEAN, expects growth of 5-6% in 2015, supported by recovery in public and private investment. The Iron and Steel Institute of Thailand (ISIT) estimates consumption to pick up pace as government initiatives start to trickle down and translate into real demand for steel.

Major challenges for the Thai steel market include the chronic oversupply and surging cheap imports from China, coupled with steep decline in steel prices, which have eroded margins of domestic steel players and forced some into insolvency. Going forward, more resilience in operating results is expected as sales volume and demand grow in line with economic recovery and government expenditure.

Key Points:

o Domestic apparent steel consumption accounts for the largest share (26%) among the ASEAN countries, although it registered a negative growth of 1.6% to 17.3mn tonnes in 2014.

o Domestic production of finished steel products increased slightly by 1.4% to 9.6mn tonnes in 2014.

o Consumption is largely served by imports rather than local production. Import of long products increased by 10%, while export declined by 2% in 2014.

o Apparent steel consumption in 2015 is estimated to grow by 5-6%, thanks to the positive contribution from economic stimulus as well as government spending and total investment.

Table Of Contents

Thailand Steel Industry Report - 2015
1. Industry profile

1.1 Global steel overview

1.2 ASEAN steel overview

1.3 Thailand steel overview

1.4 Production

1.4.1 Productivity

1.4.2 Capacity utilisation

1.5 Consumption

1.6 Foreign Trade

1.6.1 Imports

1.6.2 Exports

1.7 Prices

2. Market trends and outlook

2.1 Investment

2.2 Anti-dumping duties

2.3 Impact of Thai political instability

2.4 Impact of Chinese exports

2.5 Government strategies

2.6 Market outlook

3. Leading players and comparative matrix

3.1 Company profile

3.1.1 Sahaviriya Steel Industries Public Company Limited (SSI)

3.1.2 G Steel Public Company Limited (GSTEEL)

3.1.3 Tata Steel (Thailand) Public Company Limited (TSTH)

3.2 Comparative matrix

3.3 SWOT analysis

4. Tables and charts

Table 1: Global apparent steel use (ASU) for finished steel products (2014-2016)

Table 2: Top 10 apparent steel using countries (2014-2016)

Table 3: Global crude steel production (mn tonnes) (2010-9M2015)

Table 4: Top 10 steel producing countries (mn tonnes) (9M2015)

Table 5: ASEAN apparent steel consumption (metric tonnes) (2014 vs. 2013)

Table 6: Thailand steel production statistics (2010-2014) (metric tonnes)

Table 7: Thailand production by finished steel products (2010-2014) (metric tonnes)

Table 8: Thailand HRC apparent steel supply (2015 estimate) (metric tonnes)

Table 9: Thailand apparent steel consumption of total steel products (2010-2014)

(metric tonnes)

Table 10: Thailand apparent steel consumption by finished steel products

(2010-2014) (tonnes)

Table 11: Thailand imports of iron and steel products (2010-2014) (metric tonnes)

Table 12: Thailand exports of iron and steel products (2010-2014) (metric tonnes)

Table 13: Asian steel prices (USD/tonne) (Sep 2013-Aug 2015)

Table 14: Global steel prices (USD/tonne) (Sep 2013-Aug 2015)

Table 15: Global steelmaking raw material and input costs (Sep 2013-Nov 2015)

Table 16: Anti-dumping duties on hot-rolled steel products

Table 17: Thailand's economic indicators pre- and post-political unrest (2012-2016f)

Table 18: SSI performance highlight of HRC business (9M2015 vs. 9M2014)

Table 19: SSI financial highlights (FY2010-9M2015)

Table 20: GSTEEL financial highlights (FY2010-9M2015)

Table 21: TSTH financial highlights (FY2010/11-H12015/16)

Table 22: Key financial ratios comparison of the leading players

Chart 1: Top 10 steel producing companies in 2014

Chart 2: ASEAN production, import, export and consumption (2008-2014)

Chart 3: Thailand steel industry end-users in 2014

Chart 4: Thailand total steel production and consumption (2004-2014)

Chart 5: Manufacturing Production Index (2000=100) (2013-2015)

Chart 6: Capacity utilisation rate (%) (2013-2015)

Chart 7: Thailand import and export of iron and steel products (2004-2014)

Chart 8: HRC and raw material prices (Q1/2014-Q4/2015)

Chart 9: Value of imported iron and steel from China (Q1/2011-Q3/2015)

Chart 10: TSTH revenue structure in 2014-15 (THB mn)

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