Indonesia’s Ministry of Finance has decided to extend anti-dumping duties on hot rolled coils (HRC) imported from China, India, Russia, Kazakhstan, Belarus, Taiwan and Thailand for another five years, until 2030, Kallanish reports.
The safeguard measure already took effect on January 15, 2025.
Currently, the products subject to anti-dumping duties fall under codes 7208 10 00, 7208 25 00, 7208 26 00, 7208 27 11, 7208 27 19, 7208 27 91, 7208 27 99, 7208. 36.00, 7208.37.00, 7208.38.00, 7208.39.10, 7208.39.20, 7208.39.30, 7208.39.40, 7208.39.90, 7208.90.10, 7208.90.20 and 7208.90.90.
The rate of the anti-dumping duty is as follows:
- 0-20% – for China,
- 12.95-20% – for India,
- 5.58-20% – for Russia, Kazakhstan and Belarus,
- 0-20% – for Taiwan,
- 7.52-20% – for Thailand.
From January to November in 2024, Indonesia imported about 1.32 million tons of HRC, which is 2.9% more than in the same period in 2023.
In October 2024, Turkey decided to impose anti-dumping duties on imports of hot-rolled steel plates originating from China, India, Japan and Russia. The duties will range from 6.10% to 43.31% of the CIF (cost, insurance and freight) value. The highest tariffs will be imposed on Chinese products, which have been recognized as the most threatening to the Turkish market. Chinese manufacturers are subject to duties ranging from 15% to 43%.
As GMK Center reported, last November, the US Department of Commerce increased import duties for Japanese steelmaker Nippon Steel after a review. According to the preliminary decision published in the Federal Register, the DOC set a weighted average dumping margin of 29% for the company.
Key Highlights
Anti-dumping duties remain high, with rates of up to 20% still applicable to many exporters.
Exemptions: Wuhan Iron & Steel (Group) Co and China Steel Corporation maintain their exemption, mirroring the outcome of the 2019 second sunset review. The decision follows a thorough investigation: the Anti-Dumping Committee of Indonesia initiated its third sunset review in February 2023, recommending the continuation of tariffs earlier this year in January 2024
Impact on the Industry
The extended duties are likely to influence the global hot-rolled steel trade landscape. This move could lead to increased procurement costs and intensified supplier evaluations for industries reliant on HRC, such as pipe manufacturing and construction.
Amid these market shifts, Promisteel emerges as a reliable partner for hot-rolled steel in China. With its commitment to quality, Promisteel ensures its HRC products meet global standards and cater to diverse industry needs. Whether for pipe manufacturing, construction, or other applications, Promisteel delivers solutions tailored to client demands.