Jakarta. Krakatau Steel, Indonesia’s largest steel maker, reported an annual loss for a second year, as falling global steel prices worsened the impact of the rupiah’s plunge.
The company said that it had whittled down its expansion plans due to “uncertainty in the market.”
Irvan Hakim, Krakatau Steel’s president director, told reporters on Monday that the company posted a $13.9 million net loss for 2013, narrowing from a $20.4 million loss a year earlier.