[SMM Flash News] SMM reported on June 30 that Indonesia is strengthening its steel industry by focusing on stainless steel production in the oil and gas (O&G) sector, aiming to reduce imports and leverage the country's abundant nickel ore reserves to become a global leader in this specialized market. The latest initiatives include: PT CT Advance Technology collaborated with Spain's Tubacex Group to invest 1 trillion Indonesian rupiah (approximately 430 million yuan) to establish Indonesia's first corrosion-resistant stainless steel factory, with an expected annual production capacity of 10,000 mt of marine-grade stainless steel. PT Artas Energi Petrogas partnered with Inerco Global International to invest 2.5 trillion Indonesian rupiah (approximately 1.08 billion yuan) to build Southeast Asia's largest seamless steel pipe factory, with an annual capacity of 250,000 mt, capable of meeting 50% of Indonesia's demand and saving 15 trillion Indonesian rupiah (approximately 6.5 billion yuan) in import expenses. The Indonesian government further supports domestic production through measures such as nickel downstream policies and steel import controls, promoting a higher degree of self-sufficiency in the oil and gas sector.