In July 2024, Indonesia exported approximately 100,600 tons of stainless steel to China, marking a 42.26% increase from the previous month but a 29.92% decrease y-o-y.
Among Indonesia's top ten export destinations, only Taiwan, Turkey, and Thailand experienced declines in July. In contrast, other countries increased their export volumes compared to June, with China and Italy in particular seeing significant growth. Exports to Italy increased by 206.35%, surpassing 30,000 tons and nearing June 2021 levels.
Indonesia's stainless-steel exports to Taiwan exceeded exports to China for two consecutive months due to anti-dumping measures on Chinese and Indonesian products. Utilizing Taiwan as a re-export hub has become a key strategy for Indonesian and Chinese stainless-steel producers to access global markets.
By product type, Indonesia’s stainless steel scrap exports increased by 29.97% to 4,500 tons in July, while stainless steel billet exports rose by 62.74% to 196,900 tons. Hot-rolled stainless-steel exports decreased by 19.76% to 151,400 tons, while cold-rolled stainless-steel exports fell by 17.73% to 48,200 tons.
As global trade barriers on stainless steel continue to increase, further shifts in Indonesia’s export flows are expected. While the country’s primary export markets remain China, Taiwan, India, and Vietnam, other regions are currently reassessing their consumption patterns.
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