South Korean HRC made up over 40% of Indonesia’s 2014 imports
Hot rolled coil cargoes from South Korea accounted for over 40% of Indonesia’s total imports of the product last year, the country’s trade ministry said on Monday April 13.
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“The share of imports from South Korea and Malaysia reached 43% of the total imports of HRC in 2014,” the ministry said in a statement quoting the head of the Indonesian Anti-Dumping Committee (Kadi), Ernawati.
Late last week, Kadi initiated a sunset review on anti-dumping duties imposed in 2011 on HRC imports from the two Asian nations, following a request from Indonesia’s state-owned steelmaker Krakatau Steel.
While the ministry’s data showed that both countries accounted for a 43% share of imports, its breakdown for Malaysia showed that the country had only shipped 65 tonnes of HRC to Indonesia in 2014. Imports from Malaysia totalled 28 tonnes in 2013, 348 tonnes in 2012 and 56 tonnes in 2011.
HRC imports from South Korea, on the other hand, totalled 633,061 tonnes in 2014 – which compare with 698,146 tonnes in 2013, 779,454 tonnes in 2012, and 598,233 tonnes in 2011.
Duties were imposed on February 2011 for a period of five years at a rate of 48.4% for Malaysian mills, and only 3.8% for South Korean companies excluding Posco, Hyundai Steel, Hyundai Hysco and Dongkuk Steel.