Vietnam’s Ministry of Industry and Trade (MoIT) has imposed anti-dumping duty on Chinese cold-rolled steel products for five years, starting from December 21, with the dumping margin ranging between 4.43% and 25.22%.
| Vietnam's trade ministry initiated an anti-dumping probe on Chinese steel products since last September. |
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“The move is aimed at protecting domestic production and ensure the lawful rights of local manufacturers and related industries using such products,” noted the MoIT in a statement.
For certain types of cold-rolled steel that are excluded from the anti-dumping duty, the ministry will carry out the review process on a case-by case basis.
The MoIT initiated an anti-dumping probe on Chinese steel products since last September, in which the volume of cold-rolled steels originated from China imported to Vietnam stood at 273,000 tons, accounting for 65.6% of total cold-rolled steels imports to Vietnam.
“A high volume of cold-rolled steel products from China is causing negative impacts on the production of similar locally-produced ones, putting the domestic manufacturing sector under considerable threats,” stated the MoIT, referring to poor performance of key indicators such as profit, inventory or market share.
