The prices of imported steel product in the international market are predicted to jump to US$900 per ton in June from $600 due to the expensive production cost, an executive of steel company told reporters in Jakarta on Wednesday.
“The prices of imported steel products might increase by 50 percent in June. In January, the prices were still around $600 per ton” Irvan Kamil, the marketing director of state steel company PT Krakatau Steel, said.
According Irvan, the prices of imported steel have increased significantly over the last few months.
“In March the imported steel prices reached about $700 per ton, and it will increase again,” he said.
Irvan believes that the high prices of imported steel are driven by the high production cost amid stable domestic demand.