Indonesia Levies Anti-dumping Tax on Vietnamese Steel

 
Tuoitrenews reported that cold rolled coil and sheet steel exported from Vietnam to Indonesia are now subject to anti dumping taxes ranging between 13.5% and 36.6%.

The Indonesia Anti-Dumping Committee has ruled the sanction is the final conclusion of an anti dumping review aimed at such steel products imported from Vietnam, China, Japan, South Korea and Taiwan that was initiated in June 2011.

The products under investigation are cold rolled coil and sheet steel coded HS7209 and 7211 that were imported in 2010 as petitioned by Indonesia's biggest steel maker Krakatau Steel.

The KADI said in late December that it would ask the government to impose antidumping duties ranging between 10% and 68 on steel imports from the said five nations according to a December 22nd 2012 story on the English-language website of the Jakarta Post.

Mr Bachrul Chairi chairman of KADI said that "The highest duty is reserved for China, Indonesia's biggest source of imported cold rolled coil and sheet steel."

He said that "Steel imports from the five countries under question have seriously harmed local manufacturers of similar items and the dumped products have forced local producers to sell their goods at prices below production costs."

He added that "If such conditions continue the firms will soon go into bankruptcy."

Mr Nguyen Tien Nghi deputy chairman of the Vietnam Steel Association said that "Vietnamese cold rolled coil and sheet steel exported to Indonesia is produced by POSCO Vietnam but at a small export volume."

Vietnam exported more than USD 16.6 million worth of steel products to Indonesia between January and November of last year an enormous 80.4 % YoY increase according to figures from the General Department of Statistics.

Vietnamese steel as well as other exported commodities are now also facing potential anti dumping taxes from other countries such as Thailand and Malaysia.