According to Indonesian Iron and Steel Industry Association, Indonesia’s steel consumption is expected to rise 50,3%: from 15,1 million mt in 2018 to 22,7 million mt in 2024.
Most of the demand will come from the country’s construction sector which accounts for about 78% of steel consumption annually. About 40% is used in infrastructure work while the other 38% goes into non-infrastructure work.
The economic growth in this sector is sustained by manufacturing industry and construction in fact the domestic steel consumption in expected to grow by 7%.
Over the first half of 2019, demand for long steel products rose 9,7% year on year to 2.9 million mt as local production grew 11,3% to 2 million mt, the South East Asia Iron and Steel Institute said.
2020 will be the continuation of infrastructure development that has been carried out to support economic expansion and inclusive growth in Indonesia.
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