INDUSTRIES COMPLAIN OF CHINESE STEEL AMID PRICE HIKES

By Andi Abdussalam

Jakarta, Feb 28 (ANTARA) - Steel price has been increasing in the country since early this year but steel industries are complaining of the flood of steel imports from China.          According to Sudirman Maman, chairman of the Indonesian Automotive Industry Association (Gaikindo), steel price had been increasing by about 13 to 15 percent since January.          He said here on Thursday that the price increase in steel had the potential to boost the selling price of automotive products.          National steel industries are forced to raise the price of steel at home as a result of the significant increase in the price of raw materials such as iron scrap, iron ore pellets and slabs.          The price of raw materials, most of which are imported, has been moving up since early this year. Since January, the price of scraps, for example, has increased 13 percent from US$380 per ton in October 2012 to US$430 per ton now.          The price of imported iron ore pellets has increased 30 percent from US$115 per ton to US$150 per ton.  Steel slabs are now sold at US$540 per ton from US$470 per ton in October 2012.          Amid the price increase, however, local industries have been complaining of the floods of imported steel from China in the domestic market.