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January 2020 | Galvanized Steel and Tinplate Market Tracker


Automotive recovery proves pronounced: Asian Market Highlights


In China, where the automotive market is a proportionately small end user for steel, at under 10% of total consumption (less than 60Mt per year) according to the chairman of CISA we spoke to at a conference we moderated in Saudi Arabia last September,

Coated steel consumption in Asia is driven by many different end-user industries though it is clear that the output of certain coated-containing goods pulls a country’s demand more than other end uses. For example, within Asia, electrical machinery is arguably more important in Vietnam whereas automotive production is more critical in Japan. For the region as a whole, it is the automotive market that is the most significant driver historically, in-line with key coated-consuming markets such as the EU. Oxford Economics estimates that automotive production within Asia fell by 6.4% last year, after falling by 0.3% in 2018. This year, in spite of further decline in some Asian markets, output of automobiles is forecast to recover by 1.4%. After also falling for two consecutive years, apparent consumption of coated steel in China, by far the biggest coated market in Asia, is also forecast to revive this year and in our...

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