Steel JV Will Increase Local Content As Vehicle Demand Rises

A joint venture (JV) between leading South Korean steel producer Posco and Indonesia's Krakatau Steel is expected to serve the majority of Indonesia's automotive steel demand if completed on schedule in 2014, by which time BMI expects annual vehicle production to be just short of 1mn units. The dominance of Japanese carmakers means that a significant amount of steel is still imported from Japan, which given the current strength of the yen, is increasingly expensive.

To read the full article, please choose one of the following options: