Indonesia continues expanding international stainless steel market
17 Jan 2023 15:21 reported by Joy Liu
Indonesia’s stainless steel mills invested and built by Chinese enterprises have been put into operation one after another in recent years, making Indonesia become the second-largest stainless steel producer in the world, with a continually expanding international market.
In 2022, stainless steel costs surged due to issues such as global inflation and the energy crisis; however, Indonesia’s stainless steel exports kept growing amid the slowing global consumption. Indonesia's stainless steel exports kept at around 400,000 tons per month last year.
Indonesia has its own low-cost advantage, and its export products are mainly billets and hot-rolled steel. With the commissioning of the cold rolling project in Indonesia, China’s stainless steel exports were expected to be impacted more in the future.
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