Krakatau Steel seeks govt support to face flood of steel imports

摘要

State-owned steel manufacturer PT Krakatau Steel Tbk is seeking government support to face the problem posed by an influx of Chinese steel as the Chinese economy is not showing any sign of recovery. "The fact that the Chinese economy has shown no sign of improvement has caused the worlds largest steel producer to oversupply steel. As a result, Chinese steel has flooded the Southeast Asian market, including Indonesia," PT Krakatau Steel Tbk President Director, Sukandar, said in Cilegon, Banten province, on Wednesday.