Indonesia's ferrous scrap imports increase by 50% in September
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Indonesia - an emerging ferrous scrap market, witnessed a sharp growth in its scrap imports by 50% in Sep'20 on active trade activities. The country imported 0.18 mn t in Sep'20 as compared to 0.12 mn t a month ago, as per customs data maintained with SteelMint. Australia remained the largest scrap supplier to Indonesia at 0.06 mn t. Other suppliers were UK and Hongkong stood at 0.03 mn t and 0.02 mn t respectively in Sep'20
Similarly, on a quarterly basis, imports were recorded at 0.38 mn t in Q3 CY'20, down by 53% from 0.8 mn t in Q3 CY'19.
After the announcement of extending the registration time to 1st Jan'21 for scrap suppliers, the Indonesia market turned active for bookings, SteelMint has learnt from trade participants. Indonesian govt has revised its trade regulation no. 84/2019. Requirements for registered exporter's obligations for imports of non-B3 waste has been extended till 1st Jan'21.
Market highlights -
- P&S scrap offers in containers from USA increased from $280/t CFR Indonesia in Jul'20 to $295/t CFR in Aug'20
- Billet imports in Indonesia fell by 28% in Sep'20. Imports from India have fallen slightly as the buying has shifted towards Ukraine, whereas exports from Russia remained nil in Sep'20. Indonesia and Malaysia are very active in the market and attracted Chinese buying interest amid rising offers from India supported by duty advantages over non-ASEAN countries
Quantity in t
Source: SteelMint stats & customs data
