Indonesia: Ferrous scrap imports increase 27% m-o-m in Jul'20
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Indonesia, observed an increase in its scrap imports by 27% m-o-m to 75,010 t in Jul'20 in comparison with 59,070 t in Jun'20 as per customs data maintained with SteelMint. However, on yearly basis, scrap imports to Indonesia dropped significantly compared to 257,431 t in Jul'19.
During Jan-Jul'20, Indonesia ferrous scrap imports stood at 0.67 mn t compared to 1.29 mn t in Jan-Jul'19.
Key highlights -
- Hongkong remained the largest scrap supplier to Indonesia witnessed 29% of share in total imports, volumes were up by 19% m-o-m in Jul'20. Other suppliers were Malaysia and Australia.
- P&S scrap offers in containers from USA increased from $250/t CFR Indonesia in May'20 to $267/t CFR in Jun'20.
- On the other hand, Indonesian billet imports increased by 37% m-o-m in Jul'20 to 0.16 mn t. Thus, it seems mills preferred billet imports over scrap imports.
- Indonesian steelmakers were facing severe impacts caused by the COVID-19 pandemic on their business during May-June. The low demand is partially due to the large-scale social restrictions imposed by the government to contain the disease outbreak. This has led to the closure of businesses, including major steel-consuming businesses in the automotive and construction industries.
Quantity in t
Source: SteelMint stats & customs data
