Indonesia's Hot-Rolled Steel Bars and Rods Market Report 2024 - Prices, Size, Forecast, and Companies

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In 2023, the Indonesian market for hot-rolled steel bars and rods decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption saw a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod production fell to $X in 2023 estimated in export price. Over the period under review, production, however, saw a mild shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. Hot-rolled steel bar and rod production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

In 2023, after three years of growth, there was significant decline in overseas shipments of hot-rolled steel bars and rods, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2022, and then fell in the following year.

In value terms, hot-rolled steel bar and rod exports declined markedly to $X in 2023. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then contracted rapidly in the following year.

South Korea (X tons), Taiwan (Chinese) (X tons) and the Netherlands (X tons) were the main destinations of hot-rolled steel bar and rod exports from Indonesia, together accounting for X% of total exports. Australia, Singapore, Thailand, India, Myanmar, Bangladesh, the Philippines, Japan, Germany and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Australia ($X) constituted the largest markets for hot-rolled steel bar and rod exported from Indonesia worldwide, with a combined X% share of total exports. The Netherlands, Thailand, Singapore, Germany, Myanmar, Bangladesh, India, Japan, the Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.

Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Malaysia ($X per ton), while the average price for exports to India ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

After two years of growth, supplies from abroad of hot-rolled steel bars and rods decreased by X% to X tons in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports declined dramatically to $X in 2023. Over the period under review, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

In 2023, China (X tons) constituted the largest supplier of hot-rolled steel bar and rod to Indonesia, accounting for a X% share of total imports. Moreover, hot-rolled steel bar and rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, the largest hot-rolled steel bar and rod suppliers to Indonesia were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the import price, however, enjoyed a noticeable increase. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Indonesia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

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