Indonesia-based steel producer PT Krakatau Steel is ready to resume competition and being active in the ASEAN regional supply chain. The company has signed a memorandum of understanding with Vietnam Steel Corporation with a commitment to supply 120,000 mt of HRC over the next year, according to local media reports.
The agreement shows that Krakatau Steel is starting to optimize the production of the hot strip mill No. 1 at its Cilegon plant after modernization works. In March, Krakatau Steel completed the upgrade of its hot strip mill No. 1, which has an annual capacity of 2.4 million mt and had been inactive for a lengthy period, since May 2023, after a fire broke out at the mill, as SteelOrbis previously reported.
