Indonesia’s ferrous scrap imports drop by 61pc in November to 126,976mt from the prior year as suppliers reduced offers to Indonesia buyers amid lack of clarity around the exporter registration norms. Steelmakers and traders also faced delays in renewing scrap import licenses. Imports in November are down by 23pc from October.
From Jan-Nov, Indonesia imported 1.28mn mt ferrous scrap, down 47pc from the prior year period and compared to 2.61mn mt imports in full year 2019.
|Indonesia’s ferrous scrap import in November (mt)|
|Top exporters||Nov-20||Oct-20||Change MoM||Nov-19||Change YoY|
The continued uncertainty around import norms is driving billets imports into the country, while limiting scrap exporters from dealing with Indonesian buyers. The regulations accommodate import of higher grades but HMS scrap faces additional delays at the port, thereby reducing the number of offers to Indonesian buyers. In October, authorities had extended the deadline for exporter registration till the end of 2020, but offers tapered out in November as the suppliers avoided deal amid container shortage and vessel delays on Asian routes.