The production capacity in South East Asia, including Indonesia and Malaysia, grew significantly, and these countries were gradually equipped with export ability. Therefore, South East Asia gradually switched from billet-demand countries to suppliers.
With the implanting of China's Belt and Road initiative, China has invested in Indonesia's steel mills construction, which further boosts the local steel production capacity. Indonesia has become the net billet exporter since 2020. In 2021, the exports reached 1.78 million tons. Among them, China and the Philippines were the main buyers.
Source: YIEH
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