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Indonesia’s Steel Industry Growing Strong Reports Emerging Markets Direct Media Holdings, LLC - Indonesia: Steel covers the global overview, ASEAN overview and country overview in terms of steel market situation, consumption and production, industry performance, capacity utilisation and steel scrap market - EmergingMarketsDirect.com
Indonesia’s Steel Industry Growing Strong Reports Emerging Markets Direct Media Holdings, LLC

 

NewswireToday - /newswire/ - Beverly, MA, United States, 2012/10/10 - Indonesia: Steel covers the global overview, ASEAN overview and country overview in terms of steel market situation, consumption and production, industry performance, capacity utilisation and steel scrap market - EmergingMarketsDirect.com.

   
 
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Indonesia’s steel consumption grew robustly by 22.4% y/y to 10.95mn metric tonnes in 2011 in line with the growth in domestic steel demand. As the country with the largest economy and highest population in ASEAN, its share of steel consumption reached 20.9% making it the top second steel consuming country in the region.

With about 300 domestic players, the steel industry of Indonesia employs more than 500,000 people and is capable of producing 5.5mn tonnes of total steel products annually including hot-rolled steel products (bars, wire rods and plates) and crude steel products (billet and slab). And more production is expected in the coming years.

Similar to other ASEAN member countries, Indonesia is a big net importer of steel products as local producers supply only about half of the country’s steel demand. In 2011, imports of total iron and steel products surged 24.5% y/y to 9.7mn tonnes. The largest country of origin was Japan, China and Russia.

State-owned PT Krakatau Steel (KRAS) is the largest integrated steel producer in Indonesia. The steelmaker is capable of producing 2.5mn tonnes of crude steel and is the largest producer of hot- and cold-rolled coils with a domestic market share of 41% and 24%, respectively.

Salient points
•The significant increase in Indonesia’s steel consumption in 2011 was supported more by import, which was 32% higher than the 2007 level, and not from domestic production.
•The country’s domestic steel production increased 4.5% y/y to 5.45mn tonnes in 2011. Bars and wire rods are the primary steel products and account for the largest annual production output of the industry.
•The gross domestic product (GDP) of the Indonesian iron and basic steel industry increased 3.4% y/y to IDR 8.0tn in Q2/2012.

 
 
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Indonesia’s Steel Industry Growing Strong Reports Emerging Markets Direct Media Holdings, LLC

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