Feb 01, 2018 / 15:27

Vietnam to review anti-dumping measures on certain imported steel products

The Hanoitimes - The Ministry of Industry and Trade (MoIT) will conduct the first review of anti-dumping duties on a number of imported galvanized steel products.

The ministry announced that applications for the review must be sent to its investigation agency before March 8 this year.
Previously, in last March, the ministry issued Decision No.1105/QD-BCT on the application of official anti-dumping measures on some imported galvanized steel products (also known as galvanized iron). Up to 26 HS codes originating from China (including Hong Kong) and the Republic of Korea (case number AD02) were brought under these measures.
 
The steel industry will continue on a high growth of 20-22% this year
The steel industry will continue on a high growth of 20-22% this year
Vietnam’s steel production last year rebounded thanks to the application of anti-dumping measures. 
According to Vietnam Steel Association (VSA), the country’s steel output reached more than 22 million tons in 2017, a year-on-year increase of 23.5 per cent, with a sold volume of nearly 19 million tons, up 20.7 per cent. 
Vietnam imported nearly 20 million tons of steel in 2017, a 14.2% drop, the association said.
MoIT has also affirmed that Vietnam will continuously apply trade remedies in accordance with the World Trade Organization’s rules and its commitments under its free trade agreements to protect domestic steel producers from imported products in 2018.
The ministry said that it will also take steps to prevent fraud in the use of rolled steel in the domestic construction industry, as some investors and developers are using such products without declaration to evade taxes.
VSA Vice Chairman, Nguyen Van Sua, said VSA will also proactively participate in developing national standards for steel products and technical barriers as well as promote the application of trade defense instruments to protect the domestic industry amidst rapid international integration.
The association will work with MoIT’s Vietnam Competition Authority and local steel firms to closely monitor the trading of steel products, which the country imposed anti-dumping measures.
In addition to these, the association will keep a close watch on imported products that local producers can manufacture and propose measures to promote domestic production.  
Sua forecast that the steel industry will continue on its high growth of 20-22% this year thanks to rising market demand.
The strongest growth will be seen in the production of hot-rolled steel with 154%, followed by welded steel pipe (15%), colored galvanized steel (12%), construction steel (10%), and cold-rolled steel (5%).