Steel sales sluggish in first 5 months of the year

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Thailand's steel industry experienced sluggish sales during the first five months of this year, stemming from lower spending in construction projects amid pressure from cheap imports from China, says Tata Steel (Thailand) Plc (TSTH), a unit of India's largest steelmaker.

The budget spending allocation plan was approved by the House of Representatives in March to bolster the overall economy, following a months-long delay in budget planning for fiscal 2024, which started on Oct 1 last year.

TSTH is focusing on steel exports, especially in new emerging markets, in order to compensate for the drop in its steel sales in Thailand.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaIndia

Topics: 2024 Thailand Tonnes Year China Increase Million Year-on-year Steel Daga Consumption

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 05:37:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 413 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21815901

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