Indonesia's steel industry projects 5% profitability

Source：Indonesia Finance Today Release Date：2013-03-11 260

Metalworking

The Indonesian Iron and Steel Industry Association (IISIA) projects the profitability of iron and steel industry this year to reach five percent, while last year the industry posted negative profitability.

This can be achieved if there is no obstacle in raw materials supply and the industry manage to optimize itself.

Edward S Pinem, Executive Director of IISIA, said that the limitation on scrap metal import was the main obstacle in iron and steel industry last year. The import restriction halted several steel productions, hence the utilization and production outputs fell 40 percent.

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