Indonesia's scrap imports down 22% during Jan-Aug '14

JAKARTA (Scrap Monster): According to recent government statistics, Indonesian scrap imports declined significantly during the initial eight months of the current year.

The country’s imports of scrap totaled 1.31 million tons during the period, 21.6% down when compared with the imports during the corresponding eight-month period a year ago. The imports had totaled 1.67 million tons during the eight -month period from January to August last year.

The largest scrap exporter to Indonesia during the first eight months in 2014 was Singapore. The scrap imports by Indonesia from Singapore totaled 230,000 tons, accounting for less than one-fifth of the total scrap imports by the country during this period. The second largest exporter was the US with 226,000 tons, followed by Australia with 207,000 tons.

The total scrap imports by Indonesia are expected to be around 1.98 million tons during this entire year 2014, lower when compared with the total yearly import during 2013.Indonesia’s scrap imports had surged higher by 23.4% year-on-year to total 2.4 million tons in 2013.