Scrap shortage squeezes Indonesian mills
Nov 30, 2012 | 11:15 AM
| Weilyn Loo
Tags
Indonesia,
scrap,
Indonesian Iron and Steel Industry Association,
IISIA,
Weilyn Loo
SINGAPORE — Few Indonesian ferrous scrap consumers are willing to take the risk of buying overseas material again more than six months after a contamination scandal halted imports.
The local steel industry has been facing a scrap shortage in recent months after customs authorities began seizing thousands of containers carrying scrap metals for alleged contamination by hazardous and toxic wastes.
The lengthy detainment of scrap shipments at several Indonesian ports has reduced production rates at many mini-mills in the country by as much as 50 percent. ....
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