Indonesia: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Indonesia

In 2021, the Indonesian market for raw steel and steel semi-finished products decreased by -36.2% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption recorded a perceptible descent. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Indonesia

In value terms, production of raw steel and steel semi-finished products contracted markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a measured increase. The most prominent rate of growth was recorded in 2017 with an increase of 112%. Over the period under review, production of reached the maximum level at $X in 2020, and then shrank significantly in the following year.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Indonesia

In 2021, the amount of raw steel and steel semi-finished products exported from Indonesia soared to X tons, increasing by 126% against 2020 figures. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 3,412% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, exports of raw steel and steel semi-finished products surged to $X in 2021. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 953%. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for exports of raw steel and steel semi-finished products from Indonesia, accounting for a 66% share of total exports. Moreover, exports of raw steel and steel semi-finished products to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), sixfold. South Korea (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +175.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+177.5% per year) and South Korea (+279.7% per year).

In value terms, China ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Indonesia, comprising 72% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total exports. It was followed by Italy, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +165.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+159.6% per year) and Italy (+321.7% per year).

Export Prices by Country

In 2021, the average export price for raw steel and steel semi-finished products amounted to $X per ton, picking up by 20% against the previous year. In general, the export price, however, saw a deep slump. The pace of growth was the most pronounced in 2017 an increase of 135% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Indonesia

Imports of raw steel and steel semi-finished products into Indonesia declined to X tons in 2021, waning by -12.3% compared with the previous year. Over the period under review, imports recorded a mild decline. The growth pace was the most rapid in 2019 with an increase of 28%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products surged to $X in 2021. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Indonesia, with a 38% share of total imports. Moreover, imports of raw steel and steel semi-finished products from India exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was taken by Pakistan (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +109.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-13.2% per year) and Pakistan (+393.7% per year).

In value terms, India ($X) constituted the largest supplier of raw steel and steel semi-finished products to Indonesia, comprising 43% of total imports. The second position in the ranking was held by Russia ($X), with a 16% share of total imports. It was followed by Malaysia, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +101.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-11.3% per year) and Malaysia (+3.3% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, increasing by 57% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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