VN imposes anti-dumping duties on China's cold-rolled steel
VGP – Viet Nam has imposed anti-dumping duties on some coil or sheet cold-rolled steel products that originated from China for five years starting Dec. 28, with the dumping margin ranging between 4.43% and 25.22%, according to the Ministry of Industry and Trade.
The ministry said its decision was made after considering the harmony of interests of local producers and downstream industries using cold-rolled steel.
An investigation initiated by the MOIT in September found that cold-rolled steel imports from China reached 272,073 tons during the period of review, accounting for 65.5% of total cold-rolled steel imports to Viet Nam.
Such figures represent a sharp increase in imported Chinese cold-rolled steel compared with manufacturing output in Viet Nam, the main reason for the negative impact on the production of similar products by local producers.
The domestic manufacturing sector is facing substantial damage as seen across most indicators, especially profit, inventory and market share.
“A high volume of cold-rolled steel products from China is causing negative impacts on the production of similar locally-produced ones, putting the domestic manufacturing sector under considerable threats,” stated the MoIT, referring to poor performance of key indicators such as profit, inventory or market share.
Viet Nam’s trade deficit with China reached US$31.4 billion in the first 11 months of this year, slightly up the same period last year, official data showed.
Under Vietnamese regulations, anti-dumping measures are effective for five years from the date on which they come into force and the parties concerned can submit requests for a review annually./.
By Vien Nhu
