Indonesia's steel industry on growth trend as government pushes to expand production
Views : 70
Update time : 2023-11-22 15:17:21
Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, said at the Indonesian Iron & Steel Industry Association's Business Forum that domestic production can only meet 900,000 tons of the 1.5 million tons of steel demanded by Indonesia's automotive industry at the moment, reflecting the fact that the country has great opportunities for growth in the steel sector.
The government therefore aims to further expand steel production to reduce its dependence on steel imports. The government's tax incentives for housing have also prompted the construction industry to increase production.
Indonesia's leading steel producer, DXN Steel, also expanded its crude steel capacity at its integrated steel plant in Central Sulawesi to 7 million tons per year in September this year. This reflects the Indonesian steelmaker's commitment to the future expansion of its steel industry.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
