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Indonesian steel market sees positive signs

Indonesia steelmaker PT Krakatau Steel said the price of iron slab had increased to between USD 25 and USD 35, it is because the world’s two largest makers of iron slab, Ukraine and Russia are under sensitive political conflict.

The two countries combined iron slab output 13.5 million tonnes about 54% of the world’s demand of 25 million tonnes.

PT Krakatau said that if the conflict continues, the price of hot rolled coil from China and other countries will be affected in 2014.

As for local market, it would improve in accordance with global market conditions. Aside from the global factor, the improving domestic market was supported by the trade ministerial decree on steel import requirements.

The market also shows positive sentiment as it expects the incoming government to carry out numerous big projects.

Source – yieh

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