Posted on 22 Jul 2016
Since the beginning of the year, Indonesia’s steel exports fell sharply, the exports volume reduced 9% in the first half of this year. Indonesia's steel industry association said, lowering the volume of exports as the main reason, although steel prices have gone up, but it did not reach the prices expectation.
According to Indonesia Central Statistics Agency (BPS) data, in first half of the year, steel product exports amounted US$8.356 billion, dropped 9% year on year. Especially in June steel exports were only US$92.1 million, declined 52% month on month.
Indonesia's steel industry association (IISIA) said that export decrease is due to iron and steel prices have not yet been restored, although steel prices have improved, but prices remained under the business expectations.
