Indonesian stainless steel investment might slow down due to objection from Chinese industries
Delong Holdings Limited’s first-stage stainless steel project of 1 million tons capacity in Indonesia might be delayed the production to early 2020. If the production capacity was launched, coupled with the completion of Tsingshan Group’s three-stage stainless steel projects, Indonesian annual stainless steel production capacity will reach 4 million tons. Since the Indonesia consumer market wasn’t big, these capacities will be scheduled for exporting, China especially.
However, the stainless steel industries in China strongly objected to these exports, and the Chinese government has launched anti-dumping measures against some countries since March this year, including the EU countries, Japan, South Korea and Indonesia. Therefore, the stainless steel investment in Indonesia might slow down before finding some ways to digest these capacities.
