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​Indonesia mulls setting steel reference price to protect local market

( January 12, 2016, 08:31 GMT | Insight) -- Indonesia's government is studying the possibility of imposing a reference price for imported steel in a bid to protect local steel production, the Jakarta Post reports. The local steel industry faces threats from low-priced overseas products, particul...Indonesia's government is studying the possibility of imposing a reference price for imported steel in a bid to protect local steel production, the Jakarta Post reports. The local steel industry faces threats from low-priced overseas products, particularly from China, the world’s largest steel producer. State-owned steelmaker Krakatau Steel earlier said it had to bring its steel prices into line with a low market price of between $380 and $390 per ton, almost half its $600-per-ton production cost....

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