Eighteen enterprises using imported stainless steel in production haveproposed the Prime Minister not to approve the Vietnam CompetitionAuthority’s initial conclusion on cold-rolled stainless steel beingdumped in Vietnam. Report by the Saigon Times Daily.
According to these enterprises, the conclusion is unfair and causesdamage to them as well as to consumers. Therefore, they requested thePrime Minister not to approve the Ministry of Industry and Trade’sproposal of imposing anti-dumping tariffs.
Earlierthis month, the competition watchdog under the ministry announced thefindings from the investigation that had been launched followingrequests from Posco VST and Hoa Binh Inox to impose anti-dumping taxeson stainless steel imported from China, Malaysia and Indonesia.
According to the preliminary conclusion made by the VietnamCompetition Authority (VCA), such products are dumped in Vietnam andthus it proposed to introduce punitive tariffs ranging from 6.45 percentto 30.73 percent for 120 days.
The Ministry ofIndustry and Trade will make a final decision after taking a closer lookat the issue in the next six months.
After theinitial conclusion was given, 18 enterprises producing products fromstainless steel reacted strongly against the findings.
Representative of an enterprise told the Daily that if theaforementioned tariffs were levied, it would prevent enterprises fromgetting access to diverse material sources at competitive prices, pushthem to a difficult situation and make them unable to compete.
According to these enterprises, the costs of imported materials, ifthe proposed tariffs are counted, will rise by 6-30 percent while theprices of domestic materials have already been 10-20 percent higher thanthose on the global market.
In their proposal, 18enterprises said that it was not easy for them to find replacements ifthe antidumping tariffs are introduced.
Stainlesssteel imported from China, Malaysia and Indonesia has been the majorsource of materials for these enterprises in the past decade.
Meanwhile, materials of domestic enterprises are priced higher and itis likely that domestic suppliers fail to supply enough product lines.
Besides, according to 18 enterprises in theirproposal, the main reason for huge losses incurred by Posco VST and HoaBinh Inox is their strong increase in production capacity at a time thestainless steel industry was in difficulty.
Onedetail which is revealed in the investigation process is that Posco VSThas exported a large amount of products at a price which can cause biglosses.
This is also the first time Vietnam has investigated and proposed to introduce anti-dumping tariffs.-VNA
According to these enterprises, the conclusion is unfair and causesdamage to them as well as to consumers. Therefore, they requested thePrime Minister not to approve the Ministry of Industry and Trade’sproposal of imposing anti-dumping tariffs.
Earlierthis month, the competition watchdog under the ministry announced thefindings from the investigation that had been launched followingrequests from Posco VST and Hoa Binh Inox to impose anti-dumping taxeson stainless steel imported from China, Malaysia and Indonesia.
According to the preliminary conclusion made by the VietnamCompetition Authority (VCA), such products are dumped in Vietnam andthus it proposed to introduce punitive tariffs ranging from 6.45 percentto 30.73 percent for 120 days.
The Ministry ofIndustry and Trade will make a final decision after taking a closer lookat the issue in the next six months.
After theinitial conclusion was given, 18 enterprises producing products fromstainless steel reacted strongly against the findings.
Representative of an enterprise told the Daily that if theaforementioned tariffs were levied, it would prevent enterprises fromgetting access to diverse material sources at competitive prices, pushthem to a difficult situation and make them unable to compete.
According to these enterprises, the costs of imported materials, ifthe proposed tariffs are counted, will rise by 6-30 percent while theprices of domestic materials have already been 10-20 percent higher thanthose on the global market.
In their proposal, 18enterprises said that it was not easy for them to find replacements ifthe antidumping tariffs are introduced.
Stainlesssteel imported from China, Malaysia and Indonesia has been the majorsource of materials for these enterprises in the past decade.
Meanwhile, materials of domestic enterprises are priced higher and itis likely that domestic suppliers fail to supply enough product lines.
Besides, according to 18 enterprises in theirproposal, the main reason for huge losses incurred by Posco VST and HoaBinh Inox is their strong increase in production capacity at a time thestainless steel industry was in difficulty.
Onedetail which is revealed in the investigation process is that Posco VSThas exported a large amount of products at a price which can cause biglosses.
This is also the first time Vietnam has investigated and proposed to introduce anti-dumping tariffs.-VNA
