Indonesia's flat steel demand declined by a double-digit growth rate of 11% y-o-y to 3.5 million tonnes in the first half of 2022. Production still increased, at 7% y-o-y to 3.3 million tonnes. This was mainly due to a significant increase of hot rolled coil production, at 8.6% y-o-y to 2.4 million tonnes while hot rolled plate production increased 30,000 tonnes to 929,037 tonnes in the first half of 2022.
Flat steel import in Indonesia dropped 9% y-o-y. This was mainly due to a significant declined in import of hot rolled coil and coated sheet.
Hot rolled coil import dropped 15% y-o-y to 619,569 tonnes from January to June 2022. Import of coated sheet shrank by nearly 200,000 tonnes to 560,315 tonnes.
Indonesia’s flat steel export remained significant with a double-digit growth rate of 22% y-o-y to 2.2 million tonnes in the first half of 2022. Major exported product in Indonesia was hot rolled coil (+23% to 1.3 million tonnes). Export of cold rolled coil increased 5% y-o-y to 454,655 tonnes. Coated sheet export was not significant, but the volume jumped 60% y-o-y to 64,355 tonnes in the first half of 2022.
Source: SEAISA
|