Myanmar to set standards for steel, iron

Myanmar to set standards for steel, iron

Photo - EPA

Myanmar will soon set standards to ensure the quality of locally produced and imported steel and iron. Standards will be published this year for deformed bar, three types of hot-rolled plate and one type of cold-rolled plate.

The demand for iron and steel is increasing every year with urban development and expansion. According to the Ministry of Commerce, the country imported 1.325 million tonnes of iron and steel in fiscal 2017-2018.

From 2013 to 2018, Myanmar produced 35,000 tonnes of raw materials for iron and steel per year. In 2018, it imported over 2 million tonnes of crude and finished iron and steel products.

Domestic consumption of iron and steel has risen steadily from 1.8 million tonnes in 2016, and could exceed 5 million tonnes by 2025.

Current consumption is 58 kilograms per capita. China produces 800 to 850 million tonnes to meet domestic demand of 500 million tonnes, so 350 million tonnes are exported. Myanmar produces 400,000 tonnes of billet lounge, 600,000 tonnes of steel rolling, and 500,000 tonnes of coated steel a year.

Source: Myanmar Times

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