SteelOrbis Shanghai
Following its recent anti-dumping case success, Wuhan Iron and Steel Co.'s HRC products exported to Indonesia will again be able to enjoy a zero tax rate.
Indonesia's antidumping authorities initiated an investigation into iron and HRC from China, India and Russia on June 28, 2008. Wuhan Steel was included among the respondents. In September 2007, the preliminary decision was issued and a dumping margin of 23.86 percent was to be applied for Wuhan Steel's products.
From October 29 to November 2, 2007, an investigation group was sent to Wuhan Iron and Steel Co. to carry out an on-the-spot check. During the four-day investigation, the Indian investigators approved the materials submitted by Wuhan Steel. At the hearings held by the Indonesian authorities at Jakarta on November 27, Chinese enterprises including Wuhan Steel proceeded to plead their cases. The following day, the Indonesian authorities issued a recalculated dumping margin of 3.23 percent, having accepted the defense made by Wuhan Steel.
On December 4, Wuhan Steel again defended itself on the dumping margin issue. Following its defense, the Indonesian authorities on December 19 issued its final report fully accepting the defense of Wuhan Steel and lowering the dumping margin to 1.47 percent. As a result, Wuhan Steel will once again enjoy a zero tax rate, effective as of this month.