Two local steelmakers have filed a petition with the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trace (MoIT) saying imported cold-rolled stainless steel is being dumped on the local market.

The petition by Posco VST Co Ltd and Hoa Binh Inox Joint Stock Company called for anti-dumping measures against cold-rolled stained steel imports from mainland China , Taiwan , Malaysia and Indonesia .
According to Article 10.4 of Ordinance 20/2001/PL-UBTVQH11 on anti-dumping of goods into Vietnam , MoIT must issue a decision within 60 days on whether to initiate an investigation.

This is the third time local producers have filed a petition against imported products. The two previous cases were brought against float glass and vegetable oil imports.

Most stainless steel items enjoy a zero import tariff, except cross-section, which is subjects to a 10 percent duty, according to Circular 193/2002/TT-BTC dated November 15, 2012 issued by the Ministry of Finance.

In October last year, the Finance Ministry brought forward the amended version of Circular 157/2011/TT-BTC dated November 14, 2011, raising the duty on cold-rolled stainless steel imports to 7 percent from the previous 5 percent.

Such an adjustment was made after Posco VST, the largest cold rolled stainless steel producer in Vietnam, complained about poor sales.-VNA