Vietnam launches anti-dumping investigation for hot-rolled steel imports
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Steel Daily: Vietnam's Ministry of Industry and Trade (MOIT) has initiated an anti-dumping investigation into hot-rolled coils (HRC) imported from China and India.
The investigation has been launched after a petition submitted by Formosa Ha Tinh and Hoa Phat, prominent Vietnamese companies. The companies submitted an initial complaint to the MOIT on March 31, providing additional details as requested by authorities on May 31.
Impact of imports
Earlier in March, it was alleged that a surge in hot-rolled product imports from China and India had severely impacted the domestic Vietnamese steel industry. This severely harmed the entire Vietnamese steel industry. Calculations indicated dumping margins of 22.27% for India and 27.83% for China.
This investigation covers carbon and alloy hot-rolled coils with a thickness ranging from 1.2 to 25.4 mm and a maximum width of 1,880 mm.
Investigation timeline
MOIT will conduct the dumping investigation. The investigation period for the dumping assessment is from 1 July 2023 to 30 June 2024 and for the injury assessment the investigation will cover three years from 1 July 2021. The entire investigation is expected to last up to 12 months, with a potential extension of six months.
Rising imports and domestic expansion
The survey coincides with a significant expansion of Vietnam's steel industry. A steel major, Hoa Phat, has completed the second phase of its investment, doubling its annual crude steel production capacity from 5.6 million tonnes (mnt) to 11.2 mnt.
Vietnam has experienced a significant increase in its demand for hot-rolled steel plates in 2023. Import volumes grew rapidly, reaching approximately 4.9 mnt in the first five months, a 61.8% y-o-y jump. This growth was largely attributed to a substantial 107% increase in imports from China, while shipments from India declined 32.7% to 1.5275 mnt.
Note: This article has been written in accordance with an article exchange agreement between Steel Daily and BigMint.
