Indonesia to review alloyed steel import policy, says ministry official

JAKARTA (Scrap Monster) : Based on numerous complaints received by the Ministry of Industrial affairs on alleged manipulation, the Indonesian government has decided to review its alloyed steel import policy.

According to the official, the Ministry is presently investigating the matter and that necessary action would be taken at the earliest if manipulations are found. The content of alloy in the imported products is being checked by the Ministry and customs officials.

As per government rules, the import of iron and steel products having alloy content is exempted from import duty. This presents the importers with the opportunity to import iron and steel products by stating that the products contain alloy in order to get waiver from the import duty. The large quantities of products are being dumped into the Indonesian markets, thus harming domestic producers.

The Ministry officials hinted at complete revamp of the country’s policy on anti-dumping regulations and imports of alloyed steel.