Indonesian Steel Producers to Raise Exports
Indonesian steel producers to raise exports
JAKARTA, Aug. 21 (Xinhua) — Indonesia’s major steel manufacturers plan to increase their exports for the next three months to compensate for decreased local demand in the period surrounding the Islamic fasting month of Ramadan and Idul Fitri, the Jakarta Post reported here Thursday.
Krakatau Steel Inc.’s marketing director Irvan K. Hakim said the state steel maker, along with Essar Indonesia inc., and privately- owned Gunung Garuda Steel Group, were raising exports this month through to October.
“The domestic market slows down during the three-month period as the country is welcoming the fasting month and Idul Fitri,” he said.
“It’s impossible for us to lower our productions during the period. Therefore, we are turning to exports,” said Hakim.
During the period, Krakatau will increase its exports from 10, 000 tons per month to 20,000 tons per month; Essar from 5,000 tons to 9,000 tons; and Gunung Garuda from 35,000 tons to 40,000 tons, according to Hakim.
The three companies’ main export markets include Southeast Asia, the Middle East and Europe.
Krakatau annually produces two million tons of hot roll coils, 85,000 tons of cold roll coils, 450,000 tons of wire rods, 300,000 tons of steel bars and 200,000 tons of steel pipes, according to Hakim.
Essar manufactures 400,000 tons of cold roll coils per year, Trivedi said, while, according to Sujono, Gunung Garuda yields 700, 000 tons of hot roll coils and 500,000 tons of long steel products, including H-beams, per year.
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