[SMM Steel] PT Krakatau Osaka Steel to cease operations by June 2026

Published: May 12, 2026 17:09

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[SMM Steel] Indonesia’s PT Krakatau Osaka Steel stopped production in late April and plans to fully cease operations by June 2026, according to the Industry Ministry. Officials said the company has suffered continuous losses since 2022 due to weak construction demand and rising low-cost steel imports, particularly from China. The Indonesian government is reviewing additional measures to protect domestic steelmakers from oversupply and price pressure, while also requiring the company to ensure labor rights during the shutdown process.

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