Indonesia's Ministry of Industry is convinced that Indonesia's steel industry will grow this year, in line with estimates of accelerating macroeconomic growth.
Indonesia's domestic steel demand was 12 million tonnes last year, driven by infrastructure and construction projects. However, domestic steel producers can only supply 6-7 million tonnes, the rest comes (mainly) from China, the world's largest steel producer. But it is interesting to note that the total annual assigned production in Indonesia is currently estimated at 8-9 million tonnes, which means that there are many developers in Indonesia who prefer to import steel from abroad for their projects rather than local steel production. ...
The main reason for this situation is the overproduction of structural steel in China. Therefore, the world's second largest economy can export steel at low prices, hence more attractive than Indonesian steel. In addition, Chinese steel is considered to be of higher quality.
However, Indonesia should be able to produce at least 10 million tons of steel per year by 2025.
Indonesia steel production targets 5% growth in 2017
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Azovpromstal® 31 May 2017 г. 10:41 |
