Indonesian plants obliged to suspend production due to COVID-19
26 Mar 2020 16:07 reported by Juantxo Huang
For the moment, the COVID-19 kept destroying the Far East and it seemed that in April the situation won’t get better. This dilemma also made the demand for steel products be lower in Indonesia.
As per some experts, the capacity utilization of the steel industry in Indonesia has fallen from 2019's 50% to 40%. For example, one of the manufacturers of steel long products in Indonesia, PT. Ispat Indo, can produce 700,000 tons per year, but now the firm decided to suspend its production.
The decline in demand not only affected the demand for steel raw materials but also that for semi-finished steel products. For the moment, if the foreign demand for steel products remained low, the Indonesian steel industry might be worse.
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