Indonesia to surpass Japan & India, becoming second-largest stainless steel producer in the world
3 Jun 2021 16:42 reported by Ines Tseng
The International Stainless Steel Forum (ISSF) expected that as many Chinese companies built up significant capacity in Indonesia, Indonesia’s production will overtake India and will become the second-largest stainless steel producer in the world this year,
At present, Indonesia is the fourth-largest stainless steel producer and was expected to surpass Japan and India in 2021.
The Indian Stainless Steel Development Association (ISSDA) said that Chinese companies in Indonesia would take advantage to export stainless steel products because China cancelled export tax rebates.
In Indonesia, the current stainless steel production capacity is about 5.5 million tons, but the local demand is about 200,000 tons only. Therefore, most of the products would be exported overseas.
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