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Bangkok Post
Bangkok Post
Business

Steel consumption plunges by over 14%

Thailand Covid-19 India

Steel consumption in Thailand dropped by 14.3% year-on-year to 2.54 million tonnes between January and February due to a surge in Covid-19 infections, a shortage of construction workers and weak business sentiment, says Tata Steel Thailand Plc (TSTH), a unit of India's largest steelmaker.

The Russia-Ukraine war is also feared to affect global steel prices, eventually dealing a further blow to the steel industry, said chief executive Rajiv Mangal.

Domestic steel consumption stood at 2.97 million tonnes in the same two-month period last year.

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