Indonesia steel consumption may rise 3.8 pct in 2011 -producer
Reuters, Jakarta - 11/08/2011
Steel consumption in Indonesia in 2011 will rise as much as 3.8 percent compared to last year, due to a rise in state funded projects, said an official at Krakatau Steel , the country's biggest steel maker.
Indonesia, Southeast Asia's largest economy, is forecast to consume 8.2-8.3 million tonnes of steel this year, compared with 8 million tonnes in 2010, Irvan Kamal Hakim, Krakatau Steel's marketing director told a news conference late on Thursday.
Cement sales, also an indicator of economic growth in Indonesia, rose 17 percent last month from a year ago, data from the Indonesian Cement Association (ASI) showed, above the group's forecast for a 6 percent rise, supported by demand for housing, offices and hotel construction by the private sector.
Indonesia's second-quarter gross domestic product grew at a robust 6.5 percent from a year ago, though the economic turmoil in major trading partners the United States, Europe and Japan are causing concerns to the region.