The Indonesia Anti-Dumping Committee said that it will ask the government to impose antidumping duties of up to 68% on imported cold rolled coil and sheet steel to stop dumping.
Steel imports from China, Japan, South Korea, Taiwan and Vietnam have seriously injured local manufacturers of similar items, KADI chairman Mr Bachrul Chairi said on Friday in Jakarta.
Mr Bachrul said that “The dumped products have forced local producers to sell their similar products at prices below production costs. If the conditions continue, the firms will soon go into bankruptcy.”
Mr Bachrul said that KADI would propose that the government impose a duty ranging between 10% and 68% on steel imports from the five nations, with the largest duty reserved for China, Indonesia’s biggest source of imported cold rolled coil and sheet steel.
According to Bachrul, imposition of the duties was needed to aid local steel producers, who comprised a strategic industry for the nation.
Under current procedure, KADI will have to submit its request to the Trade Ministry, which will forward the request, if approved, to the Finance Ministry to be implemented.
According to the rules of the World Trade Organization, nations may impose anti-dumping duties, which are levied in addition to regular import tariffs, to counter dumping, which is when an exporting manufacturer sells its products in another nation at prices less than those it charges at home or are below production costs.
Source:
http://www.steelguru.com/international_news/Indonesian_Anti_dumping_group_wants_up_to_68_percent_duty_on_steel_imports/296227.html
