Steel Update

The growing import of steel has cut the utilization of national steel production to only 50%, below the target of 70-80%. Import of steel grew 32.6% to US$4.68 billion in the first half (H1) of 2018, and contributed 6.24% import of non oil and gas. In 2017 the domestic steel demand reached 13.5 million tons and predicted to grow to 14.5 million tons this year.

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Promising Development in Mineral Processing Industry

PT Indonesia Tsingshan Stainless Steel (ITSS) has on June 20, 2018 commissioned a 1 million tons per annum stainless steel factory in Morowali, Central Sulawesi province. This is part of Tsingshan’s integration strategies in Indonesia Morowali Industrial Park (IMIP). Commercial operation of the stainless steel factory will also affect nickel pig iron (NPI) supply from IMIP to China.

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