- Shipments to China increase by 13% m-o-m in Sep’25
- Downstream expansion boosts Indonesia’s output
Indonesia’s stainless steel finished flats exports stood at 2.39 million tonnes (mnt) during January-September 2025, up 7% from 2.24 mnt in the same period of 2024, according to BigMint data. The rise reflects a sustained recovery in demand from key Asian markets and continued downstream expansion in Indonesia’s stainless steel sector.
Indonesia strengthened its dominance in Asia’s stainless steel trade, securing a significant portion of China’s import market in the first nine months of 2025, reaffirming its position as a top regional exporter.
Country-wise performance
China remained the largest destination for Indonesian stainless steel, accounting for 0.76 mnt of total exports during January-September, up 2% y-o-y. However, shipments to China surged 13% m-o-m in September to 114,900 t.
Taiwan ranked second with 0.57 mnt in 9MCY’25, up 2% as compared to 0.56 mnt in the year-ago period.
Vietnam imported 0.51 mnt in 9MCY’25, up 15% as compared to 0.44 mnt in the corresponding period last year, supported by rising downstream stainless steel goods production and strong infrastructure spending. Despite a 28% m-o-m dip in August, Vietnam remains one of Indonesia’s most dynamic growth markets.
Malaysia showed the sharpest increase of 103% y-o-y to 0.20 mnt, driven by growing consumption in the construction and consumer goods sectors.
In contrast, South Korea’s imports fell 1% y-o-y to 74,900 t against 0.074 mnt, while other destinations declined 6% to 0.075 mnt, as trade volumes normalised after strong 2024 inflows.
Port-wise exports
The Bahodupi Port handled the bulk of shipments — 2.36 mnt, up 7% y-o-y against 2.21 mnt — reaffirming its position as Indonesia’s key stainless steel export hub.
Tanjung Perak Port contributed 30,440 t (+18% y-o-y) as compared to 25,781 t, while other minor ports handled around 4,229 t, marking a 160% increase.
Factors supporting rise in exports
Rapid capacity build-up in Indonesia: Indonesia’s stainless steel output has been climbing up as major producers expand capacities and bring new lines online. PT Krakatau Posco has ramped up operations at its 1.5 mnt/year hot-rolling mill in Cilegon, while Tsingshan Group continued to boost production at the Morowali Industrial Park, reinforcing its role as the country’s largest stainless producer.
The newly formed Tsingshan-Jindal Stainless joint venture, PT Glory Metal Indonesia, is adding 1.2 mnt/year of stainless capacity scheduled to start by 2026. PT Jindal Stainless Indonesia is also enhancing its 150,000 t/year cold-rolling facility. Meanwhile, new entrants such as New Asia International have commissioned additional rolling mills, further lifting Indonesia’s stainless output potential.
Raw material cost advantage: Indonesia has abundant reserves of nickel ore, which is a key raw material for producing stainless steel. As nickel is available locally and at a lower cost, Indonesian mills can produce stainless steel more competitively. This cost advantage supports higher production and more exports compared to countries that must import nickel.
Outlook
Indonesia’s stainless steel exports are likely to remain elevated in the coming months, supported by ongoing capacity expansions, steady nickel-based cost advantages, and active export marketing by major mills. Overall, Indonesia is expected to retain its position as a leading stainless steel export hub in the region.
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