At the Iron Steel Summit & Exhibition Indonesia (ISSEI) 2025, PT Krakatau Steel (Persero) Tbk and Vietnam Steel Corporation signed a Memorandum of Understanding, committing to the delivery of Hot Rolled Coil (HRC) of 120,000 tonnes for the next year. This export is a key milestone in Krakatau Steel's strategic growth, following the recovery and expansion of the company. It also underscores Krakatau Steel's commitment to re-establishing its position as a key player in the ASEAN regional supply chain. This signing is part of the broader commitment affirmed in the ASEAN Iron & Steel Council, which was formally established through the MoU of six ASEAN countries in ISSEI 2025: Indonesia, Malaysia, Vietnam, Thailand, Singapore, and the Philippines. In line with the direction of the Coordinating Minister for Economic Affairs, Airlangga Hartarto, with his opening of ISSEI 2025, Airlangga emphasised the importance of synergy between ASEAN countries to maintain the competitiveness of the steel industry amid global pressures, including international tariffs and the changing logistics landscape.
Krakatau Steel has established partnerships with several companies in the Middle East and Europe. The company is now focusing on strengthening regional ties, starting with Vietnam. This collaboration aligns with the national downstream strategy. Krakatau Steel is also looking to expand market penetration for value-added products such as automotive steel for the electric vehicle ecosystem, defence steel to support domestic production with PT Pindad and PT PAL, and green-certified construction steel that is more efficient and environmentally friendly. This MoU is consistent with the commitment to increase the Domestic Component Level (TKDN). Furthermore, Krakatau Steel is committed to exploring the potential for exchanging steel materials and components that can strengthen Indonesia's production base. These synergies also create opportunities for harmonising product specifications among ASEAN countries, demonstrating Krakatau Steel's genuine transformation in terms of efficiency, technology and regional competitiveness.
Source:
https://finance.detik.com/industri/d-7931307/krakatau-steel-siap-kirim-120-000-ton-baja-ke-vietnam
