Indonesia, China slap anti-dumping duties on each other's steel products
* Indonesia slaps up to 20 pct duty on China flat-rolled
* Country is 5th biggest market for China flat-rolled
* Russia's Severstal, India's Essar also targeted
* China to impose duties on stainless steel from Indonesia,
(Adds Indonesia govt comments)
JAKARTA, March 22 (Reuters) - Indonesia and China on Friday
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.
"But 20 percent ... it's not that significant in terms of
anti-dumping duties, compared to the high duties from Europe and
the U.S.," said Kevin Bai, an analyst at CRU in Beijing.
"It's a protection measure because in recent days Southeast
Asian countries are trying to be more independent. They are
producing their own products instead of importing from China."
With 1.79 million tonnes 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 on Friday, 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
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.
"It's a way to protect domestic steel companies, but China
imports very little from the rest of the world," said Helen Lau,
an analyst at Argonaut Securities in Hong Kong.
"It imports maybe some high-end steel products that could
not be produced locally or is imported by end-users who need a
certain type of specification."
Pradnyawati, director of trade security at Indonesia's Trade
Ministry, said that Jakarta is offering to help the exporters
who are allegedly dumping stainless steel on China, and is
studying Beijing's accusation to decide on its "next step".
She did not respond to a question on the reasoning behind
the extension of Indonesia's anti-dumping tariff on iron
products from China and the other countries.
Below are duties imposed by Indonesia on companies exporting
Country Exporter Anti-dumping
China Wuhan Iron & Steel (Group) Co 0
Angang Steel Company Ltd 20.00
Baoshan Iron & Steel Co. Ltd 20.00
India Essar Steel Ltd 12.95
JSW Steel Ltd 20.00
Russia and Novolipetsk Steel 8.96
Magnitogorsk Iron & Steel Works 20.00
JSC Severstal 5.58
Kazakhstan All exporters 20.00
Taiwan Chung Hung Steel Corporation 4.24
China Steel Corporation 0
Shang Shing Steel Industrial 4.70
Thailand Sahaviriya Steel Industries Public 11.23
Nakorntai Strip Mill Public Co. Ltd 12.78
G Steel Ltd 7.52
(Reporting by Fransiska Nangoy and Bernadette Christina Munthe;
Additional reporting by Tom Daly and Muyu Xu in BEIJING, and
Enrico dela Cruz in MANLA; Editing by Richard Pullin and Tom
First Published: 2019-03-22 08:22:28
Updated 2019-03-22 12:23:24
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