Indian steel prices under pressure from cheap imports
by David Fleschen
An impending threat of higher imports from free trade countries like Japan and South Korea is poised to rein in domestic steel production and put temporary pressure on steel prices in the January -March quarter of FY2019. Combine with a steep fall in international prices this is likely to force domestic flat steel manufactures to opt for a downward revision in prices.
"The threat of cheaper flat steel imports to India in the near term has increased and, as a result, domestic flat steel producers may have to brace for a downward revision in prices, especially in Q4 FY2019 (fourth quarter of 2018-19 fiscal)," ratings agency Icra said in its latest research report.
Source: The Economic Times / India, photo: fotoalia
"The threat of cheaper flat steel imports to India in the near term has increased and, as a result, domestic flat steel ..