The Industry Ministry reported on Tuesday a nearly three-fold increase in the value of base-metal exports this year, to an estimated US$30 million by year end.
“The exports have increased three-fold compared with last year,” ministry director general for manufacturing-based industry Panggah Susanto said in Jakarta, as quoted by tempo.co.
He said in 2010, the figure stood at $10.8 million.
Panggah said the rise was in line with a recorded 18 percent growth in Indonesia's base-metal industry, partly spurred by increasing demand for crude steel domestically.
He said the domestic need for crude steel was a total of 10 million tons per year on average but that the 313 crude-steel manufacturers in the country could only produce 9.8 million tons annually.
This resulted in continued imports of crude steel, although the amount had decreased, especially because some Chinese steel companies had shifted their investment to Indonesia, Panggah said.
He added that at least 10 new steel manufacturers were expected to start operating this year.
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