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Mar.29.2024 1USD=7.095RMB
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Recap on the Indonesia Steel Market Industry 2021

https://en.steelhome.com [SteelHome] 2021-07-02 14:17:38

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The Indonesian Steel Market 2021 Webinar, jointly organized by PT Gunung Raja Paksi (GRP) and SteelHome Website, was successfully held on June 29, 2021. More than 100 delegates from China, Indonesia, Singapore, Malaysia, Japan and other countries, including steelmakers, international trading firms and steel consumers, attended the online meeting.

The following is the main point of view of PT Gunung Raja Paksi.

There are three key macro trends:

1. Steel industry needs to embrace and integrate Environment, Social, and Governance (ESG) throughout the value chain of the business

2. Shaping the steel industry is the drive towards decarbonization and meeting net zero carbon emission pledges

3. Move towards Industry 4.0 / Factory of the Future

We see tremendous opportunities brought about by:

l  Many Chinese steel companies have pledged to bring down their carbon emissions and achieve net-zero emissions by 2050. This is in line with Beijing's pledge to achieve carbon neutrality by 2060 which has sent local officials scrambling to cut emissions, causing upheaval at steelmakers, with facility closures resulting in massive layoffs.

l  The Chinese government’s cancellation of the export tax rebates led Chinese steel companies to turn to the domestic market and reduce the production for the export market.

The above trends mean that there is great opportunity for GRP to expand its export volume significantly and to strengthen our position in the market globally.

Our growth strategy is centered on four key pillars:

1. We have been on a relentless drive to modernize our business processes to improve operational efficiencies and financial management.

2. We have plans to invest heavily in reducing our carbon emissions throughout our value chain.

3. We are investing heavily in technologies to enable the entire company to have real-time data for better decision making and better operations.

4. We are looking to expand our product mix and diversify our business as we see tremendous opportunities in the steel market.

PT Gunung Raja Paksi Tbk is seeking partnerships with the best engineering, environmental consultants, financial institutions and world-class steel companies around the world.

Source from GRP

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