Indonesia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Indonesia

In 2021, after three years of decline, there was significant growth in the Indonesian hot-rolled steel products market, when its value increased by 8.5% to $X. In general, consumption recorded a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Indonesia

In value terms, hot-rolled steel products production expanded to $X in 2021 estimated in export price. Overall, production, however, saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 137%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Indonesia

In 2021, exports of flat-rolled products of iron or steel (not further worked than hot-rolled) from Indonesia soared to X tons, picking up by 26% against the previous year. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 387% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 317%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Taiwan (Chinese) (X tons), China (X tons) and Vietnam (X tons) were the main destinations of hot-rolled steel products exports from Indonesia, with a combined 57% share of total exports. These countries were followed by Malaysia, Italy, India, Turkey, Spain, Thailand, Singapore, Belgium and Egypt, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +1,080.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than hot-rolled) exports from Indonesia, comprising 37% of total exports. The second position in the ranking was taken by China ($X), with an 18% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Taiwan (Chinese) totaled +113.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+169.2% per year) and Vietnam (+47.3% per year).

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, surging by 71% against the previous year. In general, the export price saw a prominent increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 129%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Spain ($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 Taiwan (Chinese) (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Indonesia

Hot-rolled steel products imports into Indonesia reached X tons in 2021, growing by 11% compared with the year before. Over the period under review, imports, however, saw a deep contraction. The growth pace was the most rapid in 2019 when imports increased by 23% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports soared to $X in 2021. Overall, imports, however, saw a perceptible slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of hot-rolled steel products to Indonesia, accounting for a 42% share of total imports. Moreover, hot-rolled steel products imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.1% per year) and China (+2.5% per year).

In value terms, Japan ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Indonesia, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by South Korea, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.5% per year) and South Korea (-9.9% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, surging by 40% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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