Thai steel manufacturers are worried about an influx of cheap steel products from Russia into Thai and Asean markets, following sanctions on Moscow for its invasion of Ukraine.
As steel exports from Russia are banned by the European market, Russia is seeking new buyers and China made purchases.
As steel consumption in China fell, a large amount of steel products will be shipped from China to other countries, said Chaichalerm Bunyanuwat, president of the EAF Long Product Steel Producers Association.
If cheap steel products are dumped in the Thai market, domestic steel prices will plunge, said Mr Chaichalerm.
“Local steel makers are closely monitoring cheap steel exports from China. Vietnam may also dump products in Thailand,” he said.
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