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Krakatau Steel estimates that steel exports will double this year

11 February 2019 02:01 PM  Company: PT. Krakatau Steel (Persero) Tbk[KRAS]
Rp. 452  -2 (-0.44%)

JAKARTA. PT Krakatau Steel (Persero) Tbk (KRAS) estimated that steel product exports this year would double, after the exemption of anti-dumping obligations from Malaysia and Australia.

Silmy Karim, Director of KRAS, said that the company was exempted from the anti-dumping obligations on steel products from the Government of Malaysia and Australia. Karim added that since July 2018, his party had tried to run an administrative review mechanism. Finally, the anti-dumping of KRAS products was revoked as of 9 February.

"We will increase exports to Malaysia because they are consumers of Krakatau Steel since a long time ago," Karim said as quoted by Bisnis, on Monday (11/2) today. "We push again so that we can increase national exports," Karim added.

Karim said that the need for steel in Malaysia reached 9.4 million tons per year. Seeing these needs, KRAS plans to export around 400 to 500 thousand tons in 2019. (KR/AR)

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PT. Krakatau Steel (Persero) Tbk [KRAS]   Rp. 452   -2 (-0.44%)