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As per the latest melt shop projections presented in International Stainless Steel Forum annual conference, with Chinese companies setting up huge capacities in Indonesia is all set to overtake India as the second largest stainless steel producer in the world in the calendar year 2021. Indonesia, which presently ranks fourth in global stainless steel production, will overtake Japan and India with a total production of 4.2 million tonne, a rise of 75% over last year, by end of 2021. India is projected to produce 3.5 million tonne stainless steel in 2021. In 2020, it produced 3.2 million tonne stainless steel
ISSDA President Mr KK Pahuja said “Massive capacities built up by Chinese stainless steel companies in Indonesia are set to become operational this year This has implications for India as we estimate that import intensity from Indonesia will nearly double as trade remedial measures like Countervailing Duty remains suspended since the announcement in the Union Budget.”
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