Illustrative image (Photo: plo.vn) Hanoi (VNA) - The Ministry of Industry and Trade on March 30 officiallydecided to levy anti-dumping duties on imported coated steel from mainlandChina (including Hong Kong) and the Republic of Korea.
Accordingly,Bazhou Sanqiang Metal Products will be taxed 26.36 percent, BX Steel POSCO ColdRolled Sheet 38.34 percent, Bengang Steel Plates 27.36 percent, Tianjin HaigangSteel Coil 26.32 percent, Hebei Iron & Steel Co Ltd, Tangshan Branch 38.34 percent,Wuhan Iron and Steel 33.49 percent. Chinese Yeih Phui Technomaterial was axedat the lowest rate of 3.17 percent.
POSCOof the RoK will be charged 7.02 percent anti-dumping tax while other RoK exporterswill be taxed 19 percent.
Thedecision takes effect after 15 days after the signing and will be in place forfive years.
Itfollows a December 2015 appeal by four local steelmakers asking the Governmentfor measures to prevent coated steel sheets shipped from mainland China and theRoK from being sold at cheap prices.
Theministry issued a decision on March 3, 2016 on initiating an investigation ofthe claims by domestic steelmakers and on September 1, the ministry issuedtemporary anti-dumping duties on the products.
NguyenVan Sua, Vice Chairman of the Vietnam Steel Association (VSA), said importedsteel from the RoK accounted for a small portion of 4.57 percent during theinvestigation period in comparison with other imported products, includingcoated steel for high-end markets of automobiles and electronics. In addition,the price of coated steel imported from the RoK was 85 USD per tonne higherthan that of locally produced steel in Vietnam.
Steelexports show optimism
Vietnam’simport-export report issued for the first time by the Ministry of Industry andTrade in the capital city on Wednesday predicts a positive outlook for steelexports as China’s steel exports are expected to decline due to surging demandat home.
However,it also notes that the industry faces fierce competition from cheap importedsteel, and anti-dumping duties imposed by many countries including the US,Canada, Turkey, Malaysia, Thailand and Indonesia.
Since2007, Vietnam’s steel exports have faced 29 lawsuits, 18 of them for anti-dumpingduties.
Butdespite the lawsuits, in 2016, the country’s steel exports rose 36 percent fromthe previous year to 3.48 million tonnes worth 2.03 billion USD. Prices reached580 USD per tonne, a 12 percent year-on-year decrease.
Inrecent years, Vietnam’s steel has been mostly exported to ASEAN markets due tohigh demand. However, exports to ASEAN have dropped due to trade defencemeasures by importing countries.
Lastyear, steel exports to the region reached only 1.81 million tonnes, 7.3 percentand 18 percent less in terms of quantity and value from the previous year.
Onthe other hand, exports surged to certain countries reaching 568.5 million USD (up328 percent) to the US, 121.4 million USD to the RoK (up 147.7 percent), 33.3million USD to Taiwan (up 270 percent) and 37.5 million USD to Pakistan (up221.5 percent).-VNA
Accordingly,Bazhou Sanqiang Metal Products will be taxed 26.36 percent, BX Steel POSCO ColdRolled Sheet 38.34 percent, Bengang Steel Plates 27.36 percent, Tianjin HaigangSteel Coil 26.32 percent, Hebei Iron & Steel Co Ltd, Tangshan Branch 38.34 percent,Wuhan Iron and Steel 33.49 percent. Chinese Yeih Phui Technomaterial was axedat the lowest rate of 3.17 percent.
POSCOof the RoK will be charged 7.02 percent anti-dumping tax while other RoK exporterswill be taxed 19 percent.
Thedecision takes effect after 15 days after the signing and will be in place forfive years.
Itfollows a December 2015 appeal by four local steelmakers asking the Governmentfor measures to prevent coated steel sheets shipped from mainland China and theRoK from being sold at cheap prices.
Theministry issued a decision on March 3, 2016 on initiating an investigation ofthe claims by domestic steelmakers and on September 1, the ministry issuedtemporary anti-dumping duties on the products.
NguyenVan Sua, Vice Chairman of the Vietnam Steel Association (VSA), said importedsteel from the RoK accounted for a small portion of 4.57 percent during theinvestigation period in comparison with other imported products, includingcoated steel for high-end markets of automobiles and electronics. In addition,the price of coated steel imported from the RoK was 85 USD per tonne higherthan that of locally produced steel in Vietnam.
Steelexports show optimism
Vietnam’simport-export report issued for the first time by the Ministry of Industry andTrade in the capital city on Wednesday predicts a positive outlook for steelexports as China’s steel exports are expected to decline due to surging demandat home.
However,it also notes that the industry faces fierce competition from cheap importedsteel, and anti-dumping duties imposed by many countries including the US,Canada, Turkey, Malaysia, Thailand and Indonesia.
Since2007, Vietnam’s steel exports have faced 29 lawsuits, 18 of them for anti-dumpingduties.
Butdespite the lawsuits, in 2016, the country’s steel exports rose 36 percent fromthe previous year to 3.48 million tonnes worth 2.03 billion USD. Prices reached580 USD per tonne, a 12 percent year-on-year decrease.
Inrecent years, Vietnam’s steel has been mostly exported to ASEAN markets due tohigh demand. However, exports to ASEAN have dropped due to trade defencemeasures by importing countries.
Lastyear, steel exports to the region reached only 1.81 million tonnes, 7.3 percentand 18 percent less in terms of quantity and value from the previous year.
Onthe other hand, exports surged to certain countries reaching 568.5 million USD (up328 percent) to the US, 121.4 million USD to the RoK (up 147.7 percent), 33.3million USD to Taiwan (up 270 percent) and 37.5 million USD to Pakistan (up221.5 percent).-VNA
VNA
