Indonesia Implements Antidumping Duties on Hot Rolled Coils from Key Exporters
In a significant move to protect its domestic steel industry, Indonesia's finance ministry has decided to impose antidumping duties on hot rolled coils imported from several countries, including China, India, Russia, Kazakhstan, Belarus, Taiwan, and Thailand. The antidumping duties, which will be effective from January 15, 2025, are aimed at addressing concerns of unfair trade practices that could harm Indonesia's steel market.
Duty Rates for Each Country
The antidumping duties will vary depending on the country of origin. The specific duty rates are as follows:
• China: 0-20%
• India: 12.95-20%
• Russia, Kazakhstan, and Belarus: 5.58-20%
• Taiwan: 0-20%
• Thailand: 7.52-20%
These duties will be imposed on various types of hot rolled coils, which fall under specific product codes listed by Indonesia’s finance ministry. These include codes for hot rolled coils in different forms, including sheets, plates, and rolls.
Duration and Scope of the Antidumping Measures
The antidumping duties will remain in effect for five years, with the expiry set for 2030. This long duration aims to provide stability and protection to Indonesia’s local steel producers against what the government perceives as unfair competition from imports. The duties will apply to HRC products imported under the designated codes, ensuring that these products are targeted without affecting other steel imports.
Implications for International Steel Trade
The new antidumping measures mark a significant development in the global steel trade, particularly for countries that export hot rolled coils to Indonesia. China, India, Russia, Kazakhstan, Belarus, Taiwan, and Thailand will need to adjust their export strategies to mitigate the impact of these duties. This could involve efforts to reduce the price of their steel products, or exploring new markets to offset the loss of access to Indonesia’s steel market.
For the domestic steel industry in Indonesia, this move is seen as a protective measure designed to support local manufacturers. By imposing antidumping duties, Indonesia aims to prevent the flooding of its market with unfairly priced steel, which could harm local production and employment within the steel sector.
