On July 26, the Ministry of Industry and Trade issued a decision to investigate and apply trade defense measures on hot-rolled coil (HRC) steel imported from China and India.
The investigation period to determine dumping behavior and determine damage is from July 1, 2023 to June 30. The data collection period to assess damage to the domestic industry is 3 years, from July 1, 2021 to June 30 this year.
The Ministry of Industry and Trade said that the requesting party has also provided reasonable grounds to prove the dumping behavior of the goods proposed for investigation. At the same time, it provided data to determine the dumping margin of the goods proposed for investigation from India at 22.27% and China at 27.83%.
The decision to conduct an investigation was issued based on the results of the appraisal of the complete and valid anti-dumping investigation request dossier submitted by Hoa Phat Group and Formosa Ha Tinh Steel Corporation in March.
These businesses want to have fair and legitimate support measures for domestic HRC steel production enterprises in the face of the wave of Chinese steel entering Vietnam that has been continuously increasing in recent years.
According to legal regulations, after initiating the investigation, the Ministry of Industry and Trade will send the investigation questionnaire to relevant parties to collect information to analyze and evaluate the allegations including: Dumping behavior of exporting enterprises of the investigated countries; damage to the manufacturing industry; causal relationship between dumping behavior and damage to the manufacturing industry of some domestic products.
If necessary, based on the results of the preliminary investigation, the Ministry of Industry and Trade may apply temporary anti-dumping measures to prevent dumping from continuing to cause significant damage to the domestic manufacturing industry.
According to the Customs Department, in June, Vietnam imported 886,000 tons of hot-rolled coil (HRC), equal to 151% of domestic production. Of which, the amount of steel imported from China accounted for 77%. The average import price from China was 560 USD/ton, 45-108 USD/ton lower than other countries.
In the first 6 months, the cumulative imported HRC steel output reached nearly 6 million tons, an increase of 32% over the same period in 2023. This import volume is equal to 173% of domestic production.
Of which, the amount of steel imported from China accounted for 74%, the rest from Taiwan, Korea, India, Japan and other countries. The import turnover value reached 3.46 billion USD, of which China alone accounted for 2.5 billion USD.
"The massive influx of imported steel into Vietnam, with import output at times being nearly 200% higher than domestic production, has caused businesses to lose their market share of hot-rolled steel sales to imports. The market share of HRC sales of domestic businesses such as Hoa Phat and Formosa has decreased from 42% in 2021 to 30% in 2023," the Vietnam Steel Association (VSA) assessed.
Previously in mid-May, the Thai Ministry of Commerce also conducted an investigation and considered implementing anti-dumping measures against a number of hot-rolled steel coil companies from China.
Source: https://dantri.com.vn/kinh-doanh/viet-nam-dieu-tra-chong-ban-pha-gia-thep-can-nong-tu-an-do-trung-quoc-20240729142228570.htm
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