Indonesia Billet Imports Witness 20% M-o-M Drop in Jan’20
Indonesia's billet imports were recorded at 376,169 MT during Jan’20 to book an M-o-M decline of approximately 20%. Also, the same witnessed a Y-o-Y decline of approximately 41% from 634,221 MT during Jan’19. India, Russia and, Pakistan were noted to be the top billet exporters to the country with 68,933 MT, 68,364 MT and 65,662 MT of billet exports respectively, during the month.
The acute drop in imports was primarily due to the epidemic which has hit the whole SE Asian region and slows down the trades. And now gradually locking the trades all across the globe.
Another reason which partly contributed to pulling down the country’s imports was PT. Dexin Steel Indonesia, which started selling billets since Jan’20. However, the first lot which the company sold was to the Philippines. The PT Dexin Steel is a Chinese-Indonesian joint venture between two Chinese steelmakers; Tsingshan Holding and Delong Holding, along with PT Indonesia Morowali Industrial Park.
source: SteelMint
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