Indonesian company Dexin Steel has entered the flat rolled products market. The company has started trial production of HRC in Central Sulawi province. The design capacity of the hot rolling mill is 4.5 million tonnes per year (1 million tonnes per year of HRC stainless steel and 3.5 million tonnes per year of HRC carbon steel).
SteelRadar sources state that deliveries have not yet started. However, they have started to sell trial shipments to Indonesia and other countries in small quantities of only 5 thousand HRC, Indonesia is trading at 620 CFR Lo. These sales have already affected the HRC price in Indonesia. The average export price for HRC originating from Indonesia currently stands at around $570-$580/mt CFR Lo, although it was around $680/mt CFR Lo a few months ago.
Another European source said that their company has booked a trial shipment at $590/mt FOB per tonne. It was reported that they are facing difficulties in supplying Europe as they do not yet have CE labelling.
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