Author: 10 Apr 2012 Last updated at 09:23:19 GMT

ASEAN Steel consumption up by 4% to 50.5 mn tons in 2011: SEAISI

KUALA LUMPUR (Scrap Monster): Apparent steel consumption in ASEAN increased by 4% to 50.5 million tons last year, as per latest data released by South East Asian Iron and Steel Institute (SEAISI ).

According to SEAISI data,

--Singapore's steel consumption surged significantly by more than a million tons year-on-year to 3.8 million tons in last year.

--Thailand's steel consumption increased by 3% year-on-year amidst the severe flood situation and the economic slowdown in the country.

--Steel consumption in Indonesia advanced by 8% year-on-year to 9.7 million tons in the same peroid.

--Steel consumption in Philippines increased by 8% year-on-year to 4.3 million tons in 2011.

--Malaysia's steel consumption declined by 3.2 % year-on-year to 8.05 million tons in 2011.

--Vietnam's steel consumption tight monetary and fiscal policies slowed down its domestic steel demand dropped sharply by 5.4 % to 10 million tons in last year.

Other News: Barclays: Silver prices set to remain volatile

Other News: LME Copper hits one month low of $8,202.75/ton as Chinese imports slide

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