Indonesia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Indonesia

In 2022, the Indonesian cold-rolled steel products market increased by 62% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cold-Rolled Steel Products Exports

Exports from Indonesia

In 2022, shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 11% to X tons, rising for the eighth year in a row after two years of decline. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2018 when exports increased by 131%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, cold-rolled steel products exports soared to $X in 2022. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 159% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for cold-rolled steel products exports from Indonesia, with a 66% share of total exports. Moreover, cold-rolled steel products exports to China exceeded the volume sent to the second major destination, Italy (X tons), eightfold. The third position in this ranking was taken by South Korea (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +101.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+45.8% per year) and South Korea (+19.8% per year).

In value terms, China ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Indonesia, comprising 67% of total exports. The second position in the ranking was held by Italy ($X), with a 9.4% share of total exports. It was followed by South Korea, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +102.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+45.7% per year) and South Korea (+21.1% per year).

Export Prices by Country

The average cold-rolled steel products export price stood at $X per ton in 2022, surging by 30% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +43.4% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Indonesia

In 2022, cold-rolled steel products imports into Indonesia skyrocketed to X tons, picking up by 17% compared with 2021. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cold-rolled steel products imports skyrocketed to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +129.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) constituted the largest cold-rolled steel products supplier to Indonesia, with a 53% share of total imports. Moreover, cold-rolled steel products imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and South Korea (-4.2% per year).

In value terms, Japan ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Indonesia, comprising 51% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.6% per year) and South Korea (-2.2% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, growing by 46% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per ton) and Thailand ($X per ton), while the price for Vietnam ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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