Posted on 23 Apr 2008
Private projects keep steel demand steady
Thailand's
demand for steel is expected to rise 4-5% this year from 12.14 million tonnes
in 2007 due to private construction projects, according to Wikrom Vajragupta,
the managing director of the Iron and Steel Institute.
However, Mr Wikrom predicted a decline in global and
domestic steel prices in the second half due to falling demand caused by a
slowing US
economy.
''Steel prices should not rise beyond [the current] level,''
he said.
Hot-rolled steel coil and steel bar prices have risen above
$900 a tonne from an average of $500 last year on soaring cost of coal and
strong demand from India, China and the Mideast.
''Steel consumption should slow in the second half of this year which may
affect prices for the period,'' Mr Wikrom said.
