Indonesia will take action to protect its steel market

    The Indonesian government announced recently that it plans tointroduce measures to protect its steel market.

    Indonesian Minister of Industry Al Ergun added that at the2018 annual meeting of the Institute of Southeast Asian Steel Researchrecently, the global steel production capacity has rapidly increased. The totalsize of steel production capacity in developing countries in 2017 has exceeded700 million tons, resulting in steel prices, industry profits and Thedeterioration of employment conditions has exacerbated the risk of viciouscompetition in the market, interfered with the sustainable development of the industry,and constrained economic growth.

    Ellange believes that as the world's major steel consumer,the United States will strengthen the protection of the local market, whichwill lead to a new round of adjustment in the global steel market. Major supplierssuch as Japan, India, and South Korea will intensify their efforts to expandthe Southeast Asian market. This year we must guard against the risk of dumpingimported steel.