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Krakatau Steel to increase sales volume 15% in 2011

JAKARTA: Indonesia's largest steel maker, PT Krakatau Steel Tbk (KRAS), is aiming to reach its sales volume to increase 15% to 2.1 million2.2 million tons in 2011 from the last year selling volume of 1.8 million1.9 million tons.Marketing Director Krakatau

JAKARTA: Indonesia's largest steel maker, PT Krakatau Steel Tbk (KRAS), is aiming to reach its sales volume to increase 15% to 2.1 million2.2 million tons in 2011 from the last year selling volume of 1.8 million1.9 million tons.Marketing Director Krakatau Steel Irvan Kamal Hakim said the increase was based on the estimated increase of national steel consumption to 8.09 million tons from last year of 7.42 million tons. In 2012, the figure is predicted to increase to 8.85 million tons. This is mainly supported the significant growth of the national economy."We expect sales volume could increase by 15% to 2.1 million tons-2.2 million tons for the finishing product. For the downstream products, the average utilization is set between 85%-90% in this year, and for certain products such as black plate, the utilization will be near to 100%," he said today.Meanwhile, he also estimated steel prices in this year to rise. Based on data from Indonesian Iron & Steel Industry Association (IISIA), the average price of national steel is expected to rise between 15% and 23% to about IDR8,500, compared to the average national steel price in 2010 which was around IDR7.300.Irvan, who also serves as Co Chairman Flat Product of IISIA said the increase was triggered by a scarcity of steel because of the unfriendly weather. Besides, it also occurs as the increase in the commodities price as the raw materials for production. He said the current steel industry in US and Europe has already started to cut the production, so the inventories of steel decreased."The source of coking coal that is from Australia, South Africa, India, China, and Canada. However, when there is a flood disaster in Australia and the damaged equipment in one of the coal port in Canada, thus the coal supply are limited. Over the next six months, there are opportunities of significant steel price increase," he explained.Irfan said if the price increase 30% and sales volume also increase about 15%, then he estimates that Krakatau Steel's revenue could still rise about 15% in this year. However, for the exact number, Irfan is still afraid to say.Previously, the company expected to post revenue in 2010 within a range of IDR18 trillion - IDR19 trillion. When being asked whether the targets will be achieved or not, Irfan refused to give further comment. He also refused to reveal the company profit target in this year and the prognosis in profit as of 2010."We are still auditing the financial statement. It [audit] will be completed in March. So I could not give sneak peak on this. However, principally the revenue is the result of sales volume multiplied by the price. But we do not know how much the margin," he concluded. (t03/wiw)

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