Indonesia imposes duties on beam imports
Indonesia has begun to impose duties of 28% on imports of H-beams and I-beams after promising to do so last October, according to the country’s Trade Ministry. The move is the latest in a series of measures Indonesia is using to prevent imports from gaining market share as domestic demand increases, Kallanish notes.
The duties will be imposed on alloy-added H-beams up to 100mm x 350mm and I-beams up to 100mm x 600mm under HS codes 72287010 and 72287090. They began on 21 January and will continue until 20 January 2018. The rate will however fall to 26% in the second year and 18% in the third.
The duties apply to all imports but the aim is to protect against a wave of imports from China. The ministry’s investigation found that imports of I- and H-beams surged from 20,331 tonnes in 2010 to 395,814t in 2013. China had a 96.62% share of the market, it says, followed by South Korea at 1.56% and Singapore at 0.96%.
Indonesia has been amongst the more successful in combating a wave of Chinese exports in the last year. It has required that all imports of boron-added steel are carried out by registered and approved importers and suppliers. It has also imposed safeguard duties on imports of bar and rod in coil.
The safeguard measures were brought after local producer, PT Gunung Garuda petitioned the Trade ministry. Domestic producers hope to gain from significant infrastructure spending in the country this year. PT Krakatau Wajatama also produces beams in the country, Kallanish notes.
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Anonymous
Very good overview of the weekly steel market.
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