Indonesia: Government to extend duties on hot rolled coil

05/04/2013 12:00 - 423 Views

The Trade Ministry has submitted recommendations to the Finance Ministry to extend recently expired anti-dumping duties on imported hot rolled coil from China, India, Russia, Taiwan and Thailand.

“The minister [Gita Wirjawan] has already approved our proposal to keep the duties on the steel products,” Indonesian Anti-Dumping Committee (KADI) chairman Bachrul Chairi said on Wednesday in Jakarta.

The duties, imposed in 2008 and expiring last month, were imposed to offset dumping, when foreign producers sell products for less than production costs or less than at home market.

The duties, ranging from 4.24 percent to 56.51 percent, had been imposed on 17 firms. KADI had evaluated the duties at the request of Indonesia’s biggest steel maker, Krakatau Steel, which was the petitioner representing local industry.

Thu, April 04 2013, 11:05 AM

Source: The Jakarta Post