Price for Stainless Steel in Ingots or Other Primary Forms in Indonesia - 2022
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in Indonesia (FOB) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in Indonesia (CIF) - 2022
- Exports of Stainless Steel in Ingots or Other Primary Forms in Indonesia
- Imports of Stainless Steel in Ingots or Other Primary Forms in Indonesia
Price for Stainless Steel in Ingots or Other Primary Forms in Indonesia (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $2,393 per ton in March 2022, picking up by 11% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.6%. The most prominent rate of growth was recorded in November 2021 an increase of 13% m-o-m. As a result, the export price attained the peak level of $2,703 per ton. From December 2021 to March 2022, the the average export prices remained at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In March 2022, the highest price was recorded for prices to South Korea ($3,029 per ton) and Taiwan (Chinese) ($2,611 per ton), while the average price for exports to China ($2,297 per ton) and Italy ($2,515 per ton) were amongst the lowest.
From March 2021 to March 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Stainless Steel in Ingots or Other Primary Forms in Indonesia (CIF) - 2022
In 2022, the average import price for stainless steel in ingots or other primary forms amounted to $2,897 per ton, with a decrease of -3.7% against the previous year. In general, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 248% against the previous year. The import price peaked at $8,271 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($5,235 per ton), while the price for Malaysia ($1,777 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+45.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Stainless Steel in Ingots or Other Primary Forms in Indonesia
For the fourth consecutive year, Indonesia recorded growth in overseas shipments of stainless steel in ingots or other primary forms, which increased by less than 0.1% to 1.8M tons in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 308% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of stainless steel in ingots or other primary forms expanded notably to $4.1B in 2022. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 296% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Stainless Steel in Ingots or Other Primary Forms in Indonesia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 207 | 1,403 | 2,968 | 2,910 | 141.3% |
| India | 2.5 | N/A | N/A | 547 | 502.6% |
| Taiwan (Chinese) | 58.3 | 139 | 435 | 394 | 89.1% |
| Italy | 133 | 21.8 | 200 | 90.0 | -12.2% |
| Others | 11.0 | 67.7 | 123 | 123 | 123.6% |
| Total | 411 | 1,631 | 3,727 | 4,064 | 114.6% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from Indonesia in 2022:
- China (1309.1K tons)
- India (261.0K tons)
- Taiwan (Chinese) (166.6K tons)
- Italy (40.5K tons)
Imports of Stainless Steel in Ingots or Other Primary Forms in Indonesia
In 2022, approx. 6.5K tons of stainless steel in ingots or other primary forms were imported into Indonesia; with a decrease of -7% on the year before. Overall, imports showed a precipitous curtailment.
In value terms, imports of stainless steel in ingots or other primary forms reduced to $19M in 2022. In general, imports saw a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of 0.8% against the previous year.
| Import of Stainless Steel in Ingots or Other Primary Forms in Indonesia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 19.7 | 8.1 | 10.2 | 7.2 | -28.5% |
| China | 9.6 | 3.9 | 5.8 | 5.2 | -18.5% |
| Japan | 0.6 | 1.1 | 1.6 | 1.8 | 44.2% |
| South Korea | 6.1 | 0.7 | 0.5 | 1.7 | -34.7% |
| Malaysia | 2.1 | 1.3 | 0.8 | 0.9 | -24.6% |
| Vietnam | N/A | N/A | 0.6 | 0.7 | 16.7% |
| Qatar | 1.8 | N/A | N/A | N/A | 0% |
| Turkey | 0.6 | N/A | N/A | N/A | 0% |
| Ukraine | 3.5 | 4.7 | 0.1 | N/A | -83.1% |
| Others | 0.9 | 1.0 | 1.5 | 1.2 | 10.1% |
| Total | 45.1 | 20.9 | 21.0 | 18.8 | -25.3% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to Indonesia in 2022:
- China (2251.0 tons)
- Singapore (2207.4 tons)
- Japan (645.8 tons)
- Malaysia (498.3 tons)
- South Korea (423.8 tons)
- Vietnam (259.8 tons)
- Turkey (35.7 tons)
- Ukraine (21.9 tons)
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