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Thailand steel producers are preparing for the fallout of higher steel prices and growing demand from Asia in the wake of Russia’s invasion of Ukraine. Within a week, the world market price of steel billet rose to roughly US$800 per tonne, up from $650 per tonne, EAF Long Product Steel Producers Association committee member Pravit Horungruang told the Bangkok Post. “In Thailand, steelmakers have adopted risk management. They are using stocks purchased before the war, so there is no need to increase domestic steel prices even as global prices rise.” Notably, steel factories in Ukraine and Russia have closed, cutting […]

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