28
Jun
11:08
Krakatau sales firm as capital injection approved
Indonesia’s parliament passed a revised budget on Tuesday that will see Krakatau Steel enjoy a capital injection to aid its expansion plans. The steelmaker meanwhile says it will achieve 45% of its sales target for the year in January-June, and that its shipments are strong, Kallanish notes.
The IDR 2.4 trillion capital injection, including IDR 1.5 trillion in cash, will largely be used to cover the cost of the company’s capacity expansions. A 1.25 m…
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Very good overview of the weekly steel market.
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