RI to Review Anti-dumping Duty for Malaysian, Korean Steel
15 April 2015 17:42 WIB
TEMPO.CO, Jakarta - The Indonesian Trade Ministry's Anti-Dumping Committee (KADI) is planning to conduct a sunset review on the volume and timing of the anti-dumping duty for hot rolled coil (HRC) imported from South Korea and Malaysia.
The plan was made after the government received a request from listed state steel producer Krakatau Steel, representing the domestic industry.
"We found preliminary evidence that there are dumping practices in some import activities," KADI chair Ernawati said in a press release yesterday.
Ernawati said the committee has submitted the particulars of this investigation to relevant parties including importers, exporters, manufacturers from South Korea and Malaysia as well as the embassies of each country.
Since 2011, the Ministry of Finance has been imposing anti-dumping duty for Korean HRC of up to 3.8 percent. For Malaysian HRC, the anti-dumping tariff is 48.4 percent.
HRC steel import volume from South Korea and Malaysia continues to rise despite the anti-dumping duties. HRC import volume from South Korea in 2011 reached 598,233 metric tons (MT), rising to 779,454 MT in 2012. In 2013 and 2014 the volume dropped to 698,146 MT and 633,061 MT.
The imports surge is touted to have a negative impact on the domestic market, lowering Krakatau Steel's market share.
"It can be seen in the local steel industry's declining market share, abundant stock and losses suffered," Ernawati said.
URSULA FLORENE SONIA | RACHMA TW
