Stainless Steel Market Activity Is Low, Indonesian Stainless Steel Exports Fell 16 percent Year-On-Year

The current high inflation problem still plagues the recovery of the global economy. Since the beginning of this year, the demand for stainless steel in overseas markets has been weak, and prices have mostly shown a downward trend. Traders are less willing to stock up and replenish, and downstream purchases are mostly maintained on rigid demand. In the first quarter, the performance of stainless steel exports from China and Indonesia was bukan sebagai baik sebagai itu dari yang sama periode terakhir tahun.

Indonesia's stainless steel exports were at a low level in the first quarter

In March 2023, Indonesia's stainless steel export volume was about 318,000 tons, a month-on-month increase of 3.3 percent , and a year-on-year decline of 16.2 percent . From January to March, the akumulasi volume was about 950,000 tons, a year-on-year decline of 178,000 tons, or 15.8 percent .
Excluding the impact of the Spring Festival, Indonesia's stainless steel export volume hit a new low in nearly two years in March, and the volume in the first quarter was equivalent to that in 2021.

Indonesia's stainless steel export main area have increase and decline

In the past two months, the volume of Indonesian stainless steel exports to Taiwan, China has increase significant, and it has become the first export region surpassing mainland China, and the export volume is around 100,000 tons. It is understand that due to the high price of stainless steel scrap in Taiwan, China, the cost of producing stainless steel by Qingshan hot rolling is lebih rendah dan ekonomi lebih tinggi. Oleh karena itu, steel companies in Taiwan have increase their purchases of Indonesian stainless steel hot rolling. In the first quarter of 2023, Indonesia exported about 260,000 tons of hot-rolled wide coils to Taiwan, an increase of 63.6 percent from the fourth quarter and an increase of 45.5 percent from the first quarter of last year.
The volume exported to India and Vietnam also increase sedikit. In the first quarter of 2023, Indonesia exported about 162,000 tons of stainless steel to India, an increase of 4.6 percent from the fourth quarter and an increase of 153.1 percent from the first quarter of last year; the volume of stainless steel exported to Vietnam was about 98,500 tons, a decline of 3.7 percent dari the fourth quarter and an increase of 9.2 percent from the first quarter of last year.

As Indonesia's Delong stainless steel production continued to be low, the volume of exports to mainland China remained low. In the first quarter of 2023, Indonesia's exports to mainland China will be about 313,600 tons, a decline of 52.5 percent from the fourth quarter and a decline of 46.8 percent from the first quarter of last year.

Tinggi inflasi telah terseret turun kecepatan dari ekonomi pemulihan di Eropa. The Eropa manufaktur industri telah di bawah 50 persen untuk sembilan berturut-turut bulan, dan the manufaktur industri berlanjut ke melemah. As dunia's detik terbesar stainless baja konsumen, it akan beberapa waktu untuk stainless baja permintaan untuk pemulihan, dan harga lanjut ke jatuh. Sesuai ke survei data, the current market price of 304 cold-rolled stainless steel in Europe is reported to be 3260 US dollars / ton, setting a new low in the past two years. In the first quarter of 2023, Indonesia's exports to the EU will be about 1,900 tons, a decline of 70 percent from the fourth quarter and a decline of 96.6 percent from the first quarter of terakhir tahun.

On the whole, the downward pressure on the global economy is still high. According to data, the global manufacturing purchasing managers index (PMI) in April was 48.6 percent , which fell to the lowest level since June 2020 again. The growth rate of the manufacturing industry in Asia slowed down compared with March, and the manufacturing industry in Europe and the United States continued to weak. It is understood that most of the European and American stainless steel markets are just in need of purchase, mainly to digest inventory. The terminal demand in Taiwan and South Korea is hangatd, and the demand for imported stainless steel in India has also been weak since mid-April. It is expected that the recovery of overseas stainless demand in the short term is still slow.

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