Indonesia: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2025

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Indonesia

In 2021, the Indonesian market for hot-rolled non-alloy steel wire rods decreased by -10.5% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Indonesia

In value terms, hot-rolled non-alloy steel wire rod production contracted modestly to $X in 2021 estimated in export price. In general, production, however, enjoyed a tangible increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 41%. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Indonesia

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were exported from Indonesia; picking up by 91% on 2020. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 783%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2021. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 580% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines (X tons), South Korea (X tons) and Malaysia (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Indonesia, with a combined 49% share of total exports. These countries were followed by China, Australia, Kenya, Singapore, Taiwan (Chinese), Japan, Myanmar, Belgium, Thailand and Bangladesh, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Kenya (with a CAGR of +73,099.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), South Korea ($X) and Malaysia ($X) constituted the largest markets for hot-rolled non-alloy steel wire rod exported from Indonesia worldwide, together accounting for 49% of total exports. These countries were followed by China, Australia, Japan, Singapore, Taiwan (Chinese), Kenya, Belgium, Bangladesh, Thailand and Myanmar, which together accounted for a further 48%.

In terms of the main countries of destination, Kenya, with a CAGR of +94,366.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, picking up by 48% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Myanmar ($X per ton) and Kenya ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Indonesia

In 2021, purchases abroad of hot-rolled non-alloy steel wire rods decreased by -4.9% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, enjoyed a mild increase. The pace of growth appeared the most rapid in 2018 with an increase of 69% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 66% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of hot-rolled non-alloy steel wire rod to Indonesia, with a 36% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+18.8% per year) and Thailand (-2.8% per year).

In value terms, Japan ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Indonesia, comprising 37% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+18.4% per year) and China (+19.5% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, rising by 42% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Iran ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform