Will Indonesia’s Imposition of Anti Dumping Duty on Steel Imports Affect Indian Market ?
Indonesia recently extended anti-dumping duty on flat rolled iron & steel products from seven countries namely India, China,Taiwan, Thailand, Kazakhstan, Russia and Belarus.
The country has set anti dumping duty by upto 20% for a number of flat-rolled iron and steel products import.
The duty was previously imposed in 2013 on steel products imported from China, Russia and India. The same extension will come into effect after 14 days from Mar’19 once government signed the regulation.
In 2017, China accounted for 22% share in Indonesia’s flat steel imports and imports from China to Indonesia stood at 1.1 MnT
Less impact on Indian flat steel exports- Market participants shared that there will be little or no impact on flat steel export volumes from India. Since Indian steel mills have been mainly exporting flat steel to SE Asia, Europe and Middle East, so recent anti dumping duty from Indonesia might not impact the Indian market in a big way.
As per data maintained with SteelMint, India exported 0.05 MnT finish flat to Indonesia in CY18 which was 0.15 MnT in CY17. Total flat steel export volumes from India was recorded at 5.23 MnT in CY18. Thus share of India’s flat steel exports to Indonesia stood around 1% last year.
source: SteelMint
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