It is reported that the imported hot rolled coils (HRC) and cold rolled coils (CRC) from foreign countries such as China has driven the average selling price lower in Indonesian market.
Consequently, the low selling steel prices have pushed down the earnings of the country's major steel producers in the first nine months in 2012.
In the first nine months of this year, the price of HRC declined by 5.6% year on year to INR7, 263/kg while that of CRC slid by 6.3% year on year to INR 8,320/kg.
According to statistics, the import revenues of HRC from China increased more than double to US$38.19 million in 2011 from 2009. Also, the import revenues of the Chinese CRC jumped as well by 44.3% from 2009 to US$88.32 million in 2011.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61410&division=A6
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