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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 .. ratings agency IcraNSE -0.20 % said in its latest research report. Chinese hot rolled coil export offers have declined from USD 560 per MT in the first week of October to USD 477/MT at November-end. A major reason for the sharp correction in prices is the ongoing oversupply concerns in China during winter, Jayanta Roy, senior vice-president, Icra said. “We believe that seaborne steel prices would remain soft in the co .. Source-
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