According to data from the World Steel Association, Indonesia ranked as the world’s 14th-largest steel producer last year with a crude steel output of 18 million tons. However, the country remains a net importer of steel, with imports reaching 12.8 million tons last year and a supply gap of 1.4 million tons.

Indonesia’s Deputy Minister of Industry, Faisol Riza, stated that foreign producers exporting steel to Indonesia should invest and expand production locally to tap into global markets. He added that the government is committed to supporting such investment projects through various facilitation measures.

It is understood that most of Indonesia’s steel imports this year came from China. According to Faisol Riza, one major reason for the relatively weak competitiveness of domestic steel products is the outdated production equipment. In contrast, overseas producers often benefit from more efficient production processes, giving their steel products a cost advantage.

Source:  yieh.com