Because of the slack local demand and pressure from cheap foreign resource, the steel price fell dramatically on last month in Colombia.
At present, hot rolled coils (HRC), cold rolled coils (CRC) and hot dipped galvanize steel (HDG) are quoted at US$760~US$770/ton, US$860~US$875/ton and US$1,080~US$1,100/ton, down by US$50/ton, US$40~US$50/ton and US$70/ton from a month ago respectively.
Due to decreasing international steel prices, the local mills have no choice but to cut the price further in spite of the small margin.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64732&division=A2
