Thai steel manufacturers are planning to increase their domestic prices following a rise in operational costs, from raw material prices and electricity bills to the higher daily minimum wage, the Bangkok Post reported.
Thai steel manufacturers are planning to increase their domestic prices following a rise in operational costs, from raw material prices and electricity bills to the higher daily minimum wage.
FTI anticipates steel bump Hot-rolling steel rods being churned out at the Kobelco Millcon Steel factory in Rayong.
Domestic steel consumption is estimated to grow 5-8% this year, supported by the government s infrastructure investment projects, says the Iron and Steel Industry Club under the Federation of Thai Industries (FTI).
The club expects the government will support local steel producers through the Made in Thailand policy and the local content scheme to help the industry.
Nava Chantanasurakon, chairman of the Steel Industry Club, said government construction projects in the Eastern Economic Corridor (EEC), electric trains in Bangkok and other metropolitan areas as well as high-speed trains will benefit the steel industry.