The steel industry is an industry that is important to the development of the country's economy. Because it is necessary for production infrastructure development including in the downstream sectors such as electrical appliances, automobiles, bridges, highways, construction, energy, packaging, utility transmission towers. Therefore, the steel industry is attractive in terms of growth and investment.

Go back to 2020 due to the Covid-19 virus outbreak, causing economic expansion to slow down. together with the problems in the transportation sector causing demand for steel consumption to halt global crude steel production fell 0.9% to 1,864 million tons (Source: World Steel Association).

Later in 2021, after various easing measures were introduced, more economic activities could be undertaken. The manufacturing sector of the industry has a gradual recovery in trend and direction. This caused the demand for finished steel products to improve as well. World steel consumption is growing at 4.5%. In 2022, the World Steel Association estimates that global steel demand will be around 1,896 million tonnes, mainly driven by the global economic recovery and rising investment in infrastructure

For the world steel product prices, it was found that the end of 2021 to the beginning of 2022 decreased the heat. This is because most of the steel mills around the world have returned to production in almost normal quantities. In January 2022, the price of long steel products and flat steel products dropped to 756 - 762 USD per ton, or 18 - 24% from the highest price that had been raised in the middle of 2021.

However, it is unlikely that steel prices will continue to fall to the level of 2020 as steel prices in China and Asia will stabilize. And the opportunity to increase in the future China has adjusted its policy on the cancellation of export taxes (Rebate VAT) on steel products, including  an environmental policy. As a result, there is an additional cost in the production process. This includes the situation of energy costs and various raw materials such as coal, which tends to increase prices (Source: Federation of Thai Industries)