Indonesia expects steel import to rise by 66.7%

Indonesia expects steel import to rise by 66.7% this year

It is reported that Indonesia sees steel import will hike 66.7 to 10 million this year compared to last year, on strong domestic demand.Director General of Metal and Textile of Industry Ministry said to Bisnis Indonesia daily that most imports this year fulfilled the demand for automotive, shipping industry, and electronic sectors, as well as a government program of 10,000 mega watt power plant.
So far Indonesia domestic steel industry supplies about 4 to 4.5 million tons a year. The largest steelmaker of the country Krakatau Steel could only supply about 80 percent of the domestic or 2.5 million tons of the volume.