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Jun 15, 2024 / 16:05

Vietnam launches anti-dumping probes against Chinese South Korean steel

Local firms expressed concern that such practices have caused significant damage to their operations.

The Ministry of Industry and Trade on June 14 issued a decision to initiate an anti-dumping investigation into certain galvanized steel products originating from China and South Korea.

 Production of steel products in a local producer. Photo: tapchicongthuong.vn

The decision is effective immediately and covers certain flat-rolled carbon steel products, both in coil and non-coil forms, containing less than 0.6% carbon by weight and coated or plated with anti-corrosive metals.

On May 11, the Trade Remedies Authority received a request to investigate anti-dumping measures on these products from five companies: Hoa Sen Group, Nam Kim Steel, Ton Phuong Nam, Ton Dong A, and China Steel & Nippon Steel Vietnam.

Based on this request, the investigating authority conducted a review and issued a notice requesting additional information to clarify the details of the alleged violations, the basis for determining dumping practices, and the evidence of injury to the domestic industry. On June 3, the investigating authority issued notice 45/TB-PVTM confirming that the request file was complete and valid.

The complainants provided legal evidence supporting their dumping allegations, indicating dumping margins of 69.23% for China and 3.41% for South Korea, which have caused significant injury to local manufacturers.

According to the regulations, after initiating the investigation, the Ministry of Industry and Trade will send questionnaires to the relevant parties to collect information for analyzing and evaluating the allegations. This will include examining the dumping practices of exporting companies from the investigated countries and assessing the injury to specific sectors of Vietnam's manufacturing industry. Additionally, the investigation will look into the causal relationship between the dumping practices and the injury to the domestic industry.

If necessary, based on preliminary investigation results, the Ministry of Industry and Trade may impose provisional anti-dumping measures to prevent further significant prejudice to the domestic industry.

The Ministry will verify and confirm the information provided by the parties involved before finalizing the official investigation report. Additionally, the Ministry will hold public hearings to allow stakeholders to discuss, provide information, and express their views on the case before making a final conclusion.

The Ministry of Industry and Trade encourages all organizations and individuals involved in the import, distribution, trade, or use of the goods under investigation to register as stakeholders and provide the necessary information to ensure that their rights and interests are protected by law.

Previously, in 2017, Vietnam imposed anti-dumping duties on galvanized steel products (also known as coated steel) imported from China and South Korea, with the highest duty rate being 38.34%. According to the Vietnam Steel Association, between 2016 and 2023, Vietnam initiated 10 trade defense investigations on imported steel products, most of which involved steel products originating from China.