16:04, December 02, 2009  Unlisted Indonesia's steel producer PT

Macquarie Securities Group in London believes that steel prices should rebound by the end of 2009 from their massive decline during the recession, as Chinese demand picks up, Chinese exports slow and users in the United States and Europe resume buying.

Steel imports reached a record high during the first seven months of the year due to limited production capacity and soaring demand driven by government-sponsored infrastructure projects, reported local daily the Jakarta Post Wednesday.

The prices of steel shot up lately in the world market mainly as a result of large demand from China and India. The rising prices have put heavier pressures on Indonesia's downstream steel industry. The country's downstream steel industry is still dependent heavily on import for basic materials. Support from upstream industry is still very limited.

By largely escaping the global economic meltdown, Indonesia makes a run at the world's fastest-growing club.
JAKARTA — Indonesia, an emerging market, is becoming one of the world’s top performers.