Page 27 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability Corporate Governance Policy Financial Statements Attachments
Export details to CLMV group for the period of 1 April 2024- 31 March 2025
COUNTRY
REBAR (RB,DB & BIC)
MCWR
HCWR
Y11
FY25
FY24
FY23
Tons
Mn THB
Tons
Mn THB
Tons
Mn THB
Tons
Mn THB
Tons
Mn THB
Tons
Mn THB
Tons
Mn THB
CAMBODIA
1,255
25
-
-
-
-
-
-
1,255
25
5,739
112
6,426
140
LAOS
46,590
937
-
-
-
-
29
1
46,620
938
19,564
397
14,541
315
MYANMAR
-
-
-
-
-
-
-
-
-
-
-
-
-
-
VIETNAM
-
-
4,189
90
10,516
232
-
-
14,705
322
5,593
139
9,729
298
GRAND TOTAL
47,846
962
4,189
90
10,516
232
29
1
62,580
1,285
30,897
648
30,696
753
Trend of Industry in 2025
In 2025, World economic growth is expected to be 3.3%, compared to 3.2% in 2024, according to the International Monetary Fund (IMF), supported by stronger-than- expected the United States economy. Meanwhile, emerging and developing economies are likely to maintain their expansion, driven by resilient domestic demand and robust export activity. The Chinese economy is projected to be slowing down from 2024. This deceleration is mainly attributed to the U.S. trade restrictions, including higher tariffs on Chinese imports which are anticipated to undermine both the manufacturing sector and exports. Nevertheless, China's economy is partially supported by China's domestic policy to focus more on expanding demand, with possible People's Bank of China’s policy rate cuts, as well as support infrastructure investment, and help to stabilize the property market.
As for the Thai economy in 2025, the GDP growth is expected to be at a level of 2.3 - 3.3% from the previous year's expansion of 2.5% according to the forecast of the National Economic and Social Development Council (NESDC). The significant factors to support are the increase in government expenditure, particularly investment spending, the continued expansion of private consumption and the recovery of private investment, the sustained recovery of the tourism sector and related services, and the continual growth of merchandise exports.
The World Steel Association estimates world steel demand to increase by 1.2% in 2025 from the previous year’s level, supported by a widespread economic rebound. This growth is attributed to the positive impact of interest rate adjustments on boosting consumer spending and business investments, as well as ongoing infrastructure investments focused on decarbonization and digital transformation in key global markets. Meanwhile, China continues to face an ongoing downturn in the real estate sector, which may further reduce steel demand, there is nevertheless a possibility that the Chinese government will intervene and provide greater support to the economy, potentially leading to an increase in steel demand in 2025.
In Thailand, Iron and Steel Institute of Thailand expects the steel demand in the country to increase by 1.9% to 16.6 million tons in 2025 in line with the expected expansion of both the domestic and global economies. The Institute anticipates a gradual recovery in steel demand in line with improving economic conditions in both local and international markets. Additionally, the increase in government investment expenditure is expected to play a significant role in driving domestic steel demand.
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