Vietnam imposes anti-dumping duty on Chinese steel
The move is aimed at protecting domestic production and ensure the lawful rights of local manufacturers and related industries using such products, said the Vietnam’s trade ministry.
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.
