Vietnam imposes anti-dumping duties on Chinese cold-rolled steel

Friday, 2020-12-25 09:48:56
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The decision was made after considering the harmony of interests of local producers and downstream industries using cold-rolled steel.
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NDO - Vietnam’s Ministry of Industry and Trade (MOIT) has decided to impose anti-dumping duties on cold-rolled steel imported from China in order to limit and reduce any damage to domestic steelmakers.

The ministry said its decision was made after considering the harmony of interests of local producers and downstream industries using cold-rolled steel.

An investigation initiated by the MOIT in September found that cold-rolled steel imports from China reached 272,073 tonnes during the period of review, accounting for 65.5% of total cold-rolled steel imports to Vietnam.

Such figures represent a sharp increase in imported Chinese cold-rolled steel compared with manufacturing output in Vietnam, the main reason for the negative impact on the production of similar products by local producers.

The domestic manufacturing sector is facing substantial damage as seen across most indicators, especially profit, inventory and market share.

The MOIT has determined the margin of dumping at between 4.43% and 25.22%.

Under Vietnamese regulations, anti-dumping measures are effective for five years from the date on which they come into force and the parties concerned can submit requests for a review annually.