Southeast Asia Steel Sector Faces Challenges, an Industrial Info Market Brief

China's waning steel prices and the U.S.-China trade war are slowing down Southeast Asia's steel companies increasing production capacity, owing to concerns of a surplus and a return to previous low market conditions several years ago.

Vietnamese steel maker Formosa Ha Tinh Steel is reviewing its plan to build a third blast furnace in its integrated steel mill, and Hoa Phat Group is delaying its plans of launch a new blast furnace. Indonesia's Krakatau POSCO still aims to increase capacity to 10 million tons per year by 2025 despite huge challenges.