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Krakatau Steel begins to export steel to Malaysia

29 March 2019 08:50 AM  Company: PT. Krakatau Steel (Persero) Tbk[KRAS]
Rp. 368  0 (0%)

JAKARTA. PT Krakatau Steel (Persero) Tbk exports steel (Hot Rolled Coil and Steel Plate) to Malaysia.

VP Corporate Communication at PT Krakatau Steel Tbk, Agus Sutan Kaharudin, said this was the response of Krakatau Steel for the positive stimulus from the government which succeeded in removing the anti-dumping action against the HRC in Malaysia which was effective since last February, based on the decision of the Malaysian authorities at the end of 2018

"We will send 12,000 tons of HRC and Steel Plate by tomorrow at the latest," Agus said in a press statement on Thursday (28/3). The steel, he said, would be sent to several companies in Malaysia, including Petro Pipe SDN BHD, Leon Fuat Metal SDN BHD, MH Steel SDN BHD, Wan Hong Hardware Trading SDN BHD, Engtex Steel Pipes SDN BHD, S.Y.F. Hardware SDN BHD, and Top Popular Steel Co, Ltd. ",.

Agus added that the demand for steel in the ASEAN region continued to increase, In developing countries. Indonesia for example, the demand for steel has increased sharply over the past 10 years. In 2007 the demand for steel was 8.8 million tons, while in 2017 the demand reached 13.6 million tons.

In response to this, KRAS is currently expanding aggressively by building a second HSM plant which will increase HRC steel production by 1.5 million tons per year. This factory is expected to be completed in June 2019.

Meanwhile, in 2018 Krakatau Steel has recorded sales of both domestic and export of more than 2 million tons, with a total value of US$ 1.3 billion. Then during January - February 2019,  318,000 tons of steel had been sold, with a total value of US $ 215 million. (AM/AR)

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PT. Krakatau Steel (Persero) Tbk [KRAS]   Rp. 368   0 (0%)