Indonesia's Ministry of Industry emphasized that the implementation of Indonesian National Standard (SNI) and Green Industry Standard (SIH) certifications can enhance the long-term benefits of steel downstreaming. These certifications help maintain product quality, ensuring that steel products remain competitive in both domestic and international markets. By meeting global standards, the industry can expand beyond local consumption and strengthen its position in foreign markets. Steel downstreaming has significantly contributed to Indonesia’s economic growth, with the industry recording an 18.07% annual growth in the first half of 2024. Increased domestic and international demand has driven exports of iron, steel, and metal casting, with export volumes rising by 25.2% and 24.29%, respectively. Meanwhile, global steel prices have surged, with scrap prices reaching $380 per ton in March 2025, further boosting the sector's profitability. Steel downstreaming also plays a crucial role in reducing import dependency and supporting national industrial independence. According to the Indonesian Energy, Mineral, and Coal Suppliers Association (Aspebindo), steel is essential in various sectors, particularly construction, where it constitutes 30–40% of raw materials for housing projects. With President Prabowo Subianto’s three-million-housing initiative, the steel industry is expected to be a key driver of national infrastructure development.Source: https://en.antaranews.com/news/349673/sni-sih-certifications-expand-positive-impact-of-steel-downstreaming?utm_source=antaranews&utm_medium=mobile&utm_campaign=latest_category (ICE GIACARTA)

Fonte notizia: ANTARA NEWS, 24 March 2025