Southeast Asian steel coil production capacity is expanding rapidly, reshaping the regional supply chain.
Published:
2026-03-17
Recently, Southeast Asia has seen a surge in steel production capacity development, reshaping the regional steel coil supply landscape. On January 13, Vietnam's Yong Kim Group announced a $380 million investment to build a 2 million-ton-per-year short-process green stainless steel project, with the first phase planned to have a hot-rolled stainless steel coil capacity of 1.95 million tons, filling the gap in Vietnam's domestic stainless steel hot-rolling and steelmaking sectors.
Recently, Southeast Asia has seen a surge in steel production capacity development, reshaping the regional steel coil supply landscape. On January 13, Vietnam's Yong Kim Group announced a $380 million investment to build a 2 million-ton-per-year short-process green stainless steel project, with the first phase planned to have a hot-rolled stainless steel coil capacity of 1.95 million tons, filling the gap in Vietnam's domestic stainless steel hot-rolling and steelmaking sectors. It is expected to be completed and put into operation in 2028. On February 27, Vietnam's Vinmetal Group's 5 million-ton steel project was approved, with a total investment of approximately RMB 21 billion. Its core products include hot-rolled coils (HRC), high-strength steel, and special alloy steel, primarily meeting the needs of Southeast Asia's electric vehicle, infrastructure, and construction sectors. Furthermore, Turkey's Tosyali Group's Algerian cold-rolled steel plate plant will commence operation in August-September 2026, with an annual capacity of 1.4 million tons, forming a complete flat steel industry chain with its existing 2.5 million-ton hot-rolled production line, covering sectors such as automobile manufacturing, home appliances, and shipbuilding. Southeast Asian capacity expansion will gradually reduce the region's reliance on steel coil imports, while intensifying competition in the global market.
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