Indonesia' Finance Minister Sri Mulyani Indrawati - Photo: Finance Ministry.

JAKARTA (TheInsiderStories) – Indonesia imposed anti-dumping duties on hot-rolled plates from China amid government worries on the ongoing dumping practices of steel and iron products from the second largest economy in the world. The import duty is also carried out on steel products from Singapore and Ukraine.

This direction is contained in Minister of Finance Regulation Number 111 Year 2019 concerning on Imposition of Anti Dumping Import Duty on Imports of Hot Rolled Plated Products from the three countries. The regulation signed by the minister on August 1 and will effective on August 14, 2019.

The anti-dumping import duties imposed for Chinese steel products is 10.47 percent. While, for Singapore and Ukraine were set at 12.50 and 12.33 percent, respectively.

Specifically, the imported goods namely flat-rolled products of iron or non-alloy steel with a width of 600 mm or more, hot-rolled, not wrapped, not plated or uncoated, not in rolls, not further worked than hot-rolled, with thicknesses exceeding 10 millimeter included in the posted rate 7208.51.00.

Also, flat-rolled iron or non-alloy steel products, with a width of 600 mm or more, heat-rolled, not coated, not plated or not coated, not in rolls, not further worked than hot-rolled, with a thickness of 4.75 mm or more but not more than 10 mm included in the tariff post 7208.52.00.

Minister of Finance Sri Mulyani Indrawati said in an official statement on Thursday (08/09), the anti-dumping duty was carried out after the Indonesian Anti-Dumping Committee investigation showed there was still a dumping margin for exporters from China, Singapore, and Ukraine.

“So if the imposition of anti-dumping import duty is stopped, the losses will recur,” she adds.

In addition, the issuance of the regulation was carried out because the regulation on the imposition of anti-dumping import duty on steel plate products from China, Singapore and Ukraine in the Minister of Finance Regulation Number 50 the Year 2016 has expired.

On March, Indonesia and China slapped anti-dumping import duties on each other’s steel products in an escalation of a global tariff row involving one of the world’s most widely used metals.

Indonesia extended anti-dumping import duties of up to 20 percent for a number of flat-rolled iron and steel products from seven countries, including China, Russia, and India.

The duties, which have been in place since 2013, affect Chinese giants Angang Steel Co and Baoshan Iron and Steel Co, Russia’s Severstal and India’s Essar Steel. The extension will take effect 14 days from March 19, when the government signed the regulation.

Indonesia also imposed the tax on flat-rolled imports from Taiwan, Thailand, Kazakhstan, and Belarus, and separately set an 11.9 percent anti-dumping duty on a few other iron and steel products from China.

With 1.79 million tons of imports from China in 2018, Indonesia is the fifth-largest destination for Chinese flat steel products, according to the IHS Markit Global Trade Atlas, behind Vietnam, South Korea, the Philippines, and Thailand.

Earlier, China’s commerce ministry said it would impose temporary anti-dumping measures from March 23 on stainless steel billet and hot-rolled stainless steel plate from Indonesia, and other producers such as Japan, South Korea, and the European Union. It has not yet determined the duty percentages.

The Chinese tariffs follow the launch of a probe by Beijing into imports of stainless steel last July and did not appear to be related to the Indonesia tariff action.

Almost two-thirds of China’s stainless steel imports in 2017 came from Indonesia, up from just 5 percent in 2016, according to the complaint that triggered the anti-dumping probe.

Indonesian official extended the imposition of anti-dumping import duties on several iron or steel products from China. The act took amid government worries over the ongoing dumping practices for two sections of iron and steel products from China.

Written by Lexy Nantu, Email: lexy@theinsiderstories.com