Indonesia said on Friday it expects to slap new import duties on steel products in the second week of June after temporarily scrapping them earlier following sharp increases in domestic steel prices.
Soaring global prices had caused tight raw material supplies in Indonesia and in April the government had lifted import duties aimed at protecting local industry.
"The Indonesian government will announce steel import duties on June 15 by issuing a decree from the finance minister," said the government's director-general of electronic and metal industry Subagyo, who like many Indonesian uses one name.
Subagyo said duties of up to 10 percent would be imposed on imported hot-rolled coils, used in construction, and cold-rolled coils, used for items such as cars and home appliances. Duties would be at 20 percent for downstream products, and upstream products would be free of tax.
Before they were temporarily lifted, tariffs stood at 20 percent for hot-rolled coils and steel plates, and 25 percent for cold-rolled coils.
With domestic production at around 2.6 million tonnes a year, Indonesia needs to import steel to meet national consumption of some six million tonnes annually.
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