UPDATE: Vietnam to unveil AD findings on HRCs from China, India in Nov'24

MySteel: Vietnam is expected to announce the preliminary results of its anti-dumping (AD) investigation into certain hot-rolled coils (HRCs) imports from China and India in November, Mysteel learned from a press conference organized on October 23 by Vietnam's Ministry of Industry and Trade (MOIT).

In response to a petition lodged by domestic flat steel producers, Vietnam launched the AD probe into Chinese and Indian HRCs in late July. In mid-September, the deadline for submitting documents for this AD investigation was extended to October 18, as reported.

Vietnam's trade remedies authority is now collating the information and data submitted by relevant parties. Preliminary investigation results will be available by November at the latest. If there is sufficient evidence to show Vietnam's domestic steel industry has suffered significant damage due to the dumping of these imported HRCs, the MOIT will impose temporary AD measures through import tax policies, said Chu Thang Trung, Deputy Director of the Trade Defense Department of the MOIT.

Currently, Vietnam's domestic HRC production capacity stands at about 7.6 million tonnes/year, with about half meeting domestic demand and the rest directed for export. Meanwhile, Vietnam's demand for imported hot-rolled steel is expected to be around 13 million t/y. Therefore, it is still necessary to import some HRCs to meet domestic demand in the short run, the official noted.

Vietnam imported 8.8 million tonnes of HRCs over January-September, with 72% originating from China, Vietnam's customs data showed.

Note: This article has been written in accordance with an article exchange agreement between MySteel Global and BigMint.