Asian steel markets have been shaken by regional and international factors over the past year, and there is little prospect of a calm in 2023. One of the structural shifts prevailing in the region is the end of Chinese demand growth and the shift towards a less steel-intensive economy. . This shift results in long-term change and short-term shocks, as the Chinese economy falters. China has once again become the focus of Covid politics. Just as other economies are beginning to learn to live with the disease, China has been slower to develop its policies, which has led to more economic disruption.
The emergence of India as the former dominant producer of China could be a faster development. Ambitious plans are steadily moving towards at least partial realization and the impact on regional and global trade flows is already being felt. Shifts in India’s steel trade are now often more significant than changes in Chinese volumes.
Between these giants, Southeast Asia is being jolted by Russia’s invasion of Ukraine, massive inflation, a looming global recession, currency fluctuations, and rising geopolitical tensions. However, the underlying potential for steel demand growth still attracts investment in the region, which will play an ever greater global role in the steel and raw material markets.
While global markets are in turmoil, no region is the size, diversity or dynamism of Asia. Whatever direction the global steel industry will head, the engine remains in this region and at this event we intend to deepen our understanding of the role that Asian steel should play.
Asia Steel Markets 2023 will be held at Caravelle Hotel – 19-23 Lam Son Square, District 1, Ho Chi Minh City, Vietnam.
Asia Steel Markets 2023 will be held in English only.