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Domestic flat steel prices likely to face temporary pressures from cheap imports: Icra KOLKATA: 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 fl .. Read more at: //economictimes.indiatimes.com/articleshow/66936559.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst"While the domestic hot-rolled coil prices are currently trading at a marginal premium over imported prices, we believe that the steep reduction in international steel prices recently would make steel imports cheaper from January 2019 onwards, when these shipments start hitting Indian shores, and would, in turn, exert pressure on domestic steel prices in the fourth quarter of FY2019," he said. Source-https://economictimes.indiatimes.com
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