BANGKOK, 3 June 2013 Despite the lower-than-expected increase in world metal consumption, Thailand saw a 12.2 percent rise in demand for metal, thanks to the prosperity of Thai automobile industry.
According to Permanent Secretary for Industry Witoon Simachokedee, the global metal demand last year only rose 1.2 percent because of the world’s economic slowdown, especially in the Euro zone and the US. As a result, Mr. Witoon expects to see only a 2.9 percent increase in the world’s consumption of metal this year, 1.6 percent lower than the forecast.
Despite the incredibly low demand in the global market, Thailand, in 2012, saw a 12.2 percent increase in metal consumption, involving 16.6 million tons of metal used, thanks to the fast expansion in the country’s automobile industry and construction sector and a huge government investment in public infrastructure projects. The Permanent Secretary for Industry, therefore, expects this year’s growth in the Thai metal industry to be at the same level of last year.
