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Steelmakers blame imports from China for plummeting sales
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Quality control: A worker at a steel factory in the Cikarang industrial estate in Bekasi, West Java, inspects the quality of product on Oct. 4, 2019. (Antara/Fakhri Hermansyah)
The Indonesian steel industry has blamed a sharp rise in imports from China for plummeting sales at some domestic producers.
The imports have eroded the market position of local producers, according to the Indonesian Iron and Steel Industry Association (IISIA).
Widodo Setiadharmaji, the IISIA's executive director, called for immediate action from both the government and the industry to curb the influx of foreign-made steel.
“Several domestic steel producers have reported sales drops of up to 20 percent, with some struggling to sell in the domestic market due to the surge in Chinese steel imports,” said Widodo, as quoted by bisnis.com.
Read also: Businesses fret over planned 200% duty on Chinese imports
Imports of Chinese steel surged more than 33 percent year-on-year (yoy) in the first seven months of this year to 2.98 million tonnes, up from 2.23 million tonnes in the same period of last year, IISIA data show.
This followed a 43.71 yoy increase in 2023, when imports jumped from 2.85 million tonnes in 2022 to 4.05 million tonnes.
