Indonesia’s stainless steel exports to Taiwan rebound in November; black coil leads recovery
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- Black coil imports surge on aggressive price corrections
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- Semi-finished imports fall but remain above summer lows
SteelDaily: Indonesia’s stainless steel exports to Taiwan rebounded sharply in November after a temporary slowdown in October, supported by lower prices and improved buying sentiment. Taiwan imported 91,798 t of 300-series stainless steel from Indonesia in November, up 18.8% m-o-m, returning close to September levels after the prior month’s decline.
Black coil drives import growth:
The recovery was largely product-specific rather than broad-based. Black coil imports surged 74.9% m-o-m to 52,620 t, marking the second-highest monthly volume this year. Market participants noted that black coil, being highly cost-sensitive, saw concentrated buying during the price correction phase, as falling offers prompted rapid restocking.
White coil, semi-finished products lag:
In contrast, white coil imports declined 12.5% m-o-m to 19,216 t, though volumes remained relatively strong on a year-on-year basis. Imports of semi-finished products, including slabs and billets, fell 15.9% m-o-m to 22,320 t, but stayed above the lows recorded during JulyAugust.
Price corrections revive buying interest:
The November rebound was primarily driven by price adjustments. With nickel pig iron prices weakening, Indonesia’s Tsingshan has been gradually lowering its export offers for 304-series stainless steel since October. Cumulative price cuts reached around $50/t by November, easing affordability concerns and encouraging Taiwanese buyers to return to the market.
Outlook:
Industry participants indicated that the rebound reflects the release of pent-up demand after inventories were worked down and high-price resistance faded. While domestic mills in Taiwan continue to raise self-sufficiency, imported black coils remain competitive under the current cost structure, supporting near-term import demand.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
