The dumping of cheap steel is irritating Tata's division.

Last year, imports from China increased by 39%.

Published: May 1, 2024, at 09:07

Tata Steel (Thailand) Plc (TSTH), a subsidiary of the largest Indian steel mill, remains concerned about the ongoing dumping of cheap steel exports from China to Southeast Asia, including Thailand, as the Chinese economy slows down. The steel products produced by TSTH are facing serious challenges due to the influx of cheap steel imports from China into Thailand, which continues to be a significant issue for local steel manufacturers. According to President and CEO Tarun Kumar Daga, the volume of cheap steel imports from China to Thailand increased by 18% year-on-year, reaching 244,000 tons from January to February of this year. "Last year, the volume of inexpensive imports from China grew by 39% to 1.47 million tons, including rebar and long steel products," he said. Members of the Association of Southeast Asian Nations - Thailand, Indonesia, and Vietnam - have been heavily impacted by the import of cheap steel from China, Mr. Daga noted. The decline in steel consumption in the domestic Chinese market is affecting imports. TSTH is also concerned about geopolitical conflicts, including those occurring in the Middle East and the war between Russia and Ukraine, which are likely to exert additional pressure on global crude oil prices, ultimately affecting operational costs at steel mills. The company is focused on the export market and is seeking new emerging markets to export its steel products, compensating for the lack of improvements in the domestic market.

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