Indonesia’s steel consumption is expected to rise 50.3% from 15.1 million mt in 2018 to 22.7 million mt in 2024, data from the Indonesian Iron and Steel Industry Association showed, amid demand from the construction and automotive sectors. Most of the demand will come from the country’s construction sector which accounts for about 78% of steel consumption annually. About 40% is used in infrastructure work while the other 38% goes into non- infrastructure work. Based on a national economic growth rate of 5.3%, domestic steel consumption is expected to grow by 7%.
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