In 2025, the global steel plate market is expected to remain highly volatile due to ongoing economic uncertainty and international trade policies, particularly those involving the United States, China, and the European Union, which continue to influence steel import and export tariffs. According to the World Steel Association, global crude steel production declined by 2.3% in the first quarter of 2025 compared with the same period in the previous year. This decline was partly attributed to the slowdown of China’s economy, the world’s largest steel consumer. Meanwhile, demand continued to grow in India, Indonesia, and Vietnam, driven primarily by government-led investments in construction and infrastructure development.
In terms of pricing, data from Trading Economics and Shanghai Steel Home indicate that the price of Chinese Hot Rolled Coil (HRC) was approximately USD 570 per metric ton, down from its peak of around USD 880 per metric ton in 2022. Meanwhile, steel prices in Europe and the United States continued to fluctuate in response to domestic demand and persistently high energy costs. These market conditions have had a significant impact on the steel manufacturing and export industries across several Southeast Asian countries, including Thailand.
