Chinese investment increases steel capacity in Southeast Asia by 50 million tons

 TanAhYong, the outgoing Secretary-General of the Iron and Steel Association (SEAISI), said that in the past two or three years, China's investment plans for large-scale steel projects in Southeast Asia have increased significantly, especially in Indonesia, Malaysia and the Philippines.

Tan said in a farewell message to SEAISI members, "China's steel investment in ASEAN has been for some time, but it was mainly limited to smaller projects before." It said in a monthly publication released by ASEAN on Monday: "Looking forward This will be an exciting and challenging period for the ASEAN steel industry. "

TTan, who has served as secretary general of the organization since 2007, will step down this month, but no specific date has been announced. Some large-scale steel projects invested by China have annual production capacity between 3 million and 10 million tons.

Data from the World Steel Association (WorldSteelAssociation) shows that with the support of infrastructure projects, Southeast Asia ’s steel demand is expected to increase by 5.6% next year, higher than the 3.1% growth forecast this year. In contrast, the growth rate of China's steel demand is expected to slow to 1% next year, which is lower than the expected growth rate of 7.8% this year.