Indonesia's steel imports increased from Q4 2020 to Q1 2021. The Indonesian Iron and Steel Industry Association (IISIA) recorded a 19% growth, from 1.1 million tons to 1.3 million tons.
The value of steel imports in Q4 2020 was US$764 million, equivalent to Rp 11 trillion at an exchange rate of Rp 14,400/US$. This increased to US$1.1 billion or Rp 15.8 trillion in the following quarter.
According to IISIA, iron and steel imports rank third as the largest import commodity, a position unchanged since 2019. A decrease in imports occurred in 2020 due to reduced demand resulting from the Covid-19 pandemic and disrupted supply chains.
IISIA hopes the government will support the national steel industry through favorable policies. One example is the implementation of Anti-Dumping Duties (ADD), already in place in several steel-producing countries such as the United States, the European Union, Japan, and South Korea.
ADD is a government response to industrial losses due to unfair trade practices. The implementation of ADD can help the national steel industry withstand various obstacles.