It's reported that Ukraine and China had launched the price war for the general use hot rolled plates with the prices reducing by US$60~US$70/ton in the past two months from the level of US$600/ton CFR for a time. The over production and supply keep resisting the prices moving upward in China and other countries in Asia. It is reported that a new plate mill of Korea's Hyundai Steel and a new plate mill which PT Krakatau Steel and Posco are now under construction in Indonesia are scheduled in August and the end of this year respectively Both mills are seen to start production from general use plates. Excessive supply would become a major problem in the Southeast Asian steel market.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65413&division=A2
