REPUBLIKA.CO.ID, JAKARTA -- PT Krakatau Steel (KRAS) hopes the government will increase import duty on steel to protect the domestic steel industry.
"Import duty on steel is currently set at five percent. Almost all countries in Asia and Europe protect their industries at home," President Director of KRAS Sukandar said after a shareholders' public meeting (RUPS) in Jakarta on Thursday.
He noted that Indonesia's import duty has been the lowest compared with that of several other countries. India is now in the process of raising its import duty.
According to the KRAS President Director, in 2011-2014, the world price of steel declined due to significant over supply, most of which came from China.
"The average price of hot-rolled coil (HRC) in the domestic market declined from some US$869 per ton to US$550 per ton in 2011-2014," he added.
Ikuti Whatsapp Channel Republika