Indonesia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Indonesia

In 2022, the Indonesian hot-rolled steel products market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, showed a noticeable reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Indonesia

In value terms, hot-rolled steel products production dropped slightly to $X in 2022 estimated in export price. Overall, production showed prominent growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports from Indonesia

Hot-rolled steel products exports from Indonesia fell to X tons in 2022, waning by X% against 2021 figures. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, hot-rolled steel products exports declined to $X in 2022. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Vietnam (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) were the main destinations of hot-rolled steel products exports from Indonesia, with a combined X% share of total exports. Turkey, Italy, Belgium, Spain, China and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Indonesia were Taiwan (Chinese) ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total exports. China, Turkey, Italy, Belgium, Spain and Singapore lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Spain, with a CAGR of X%, recorded 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 hot-rolled steel products export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Spain ($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 Italy (X%), 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 surged to X tons in 2022, picking up by X% on 2021 figures. Over the period under review, imports, however, continue to indicate a pronounced setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, hot-rolled steel products imports surged to $X in 2022. In general, imports, however, recorded a mild slump. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of hot-rolled steel products to Indonesia, with a X% share of total imports. Moreover, hot-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 X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

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

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

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled steel products import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

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

Source: IndexBox Platform

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