The announcement on June 14 from the Department of Trade Defense said that on May 31, the agency received additional documents requesting an investigation to apply anti-dumping measures on some hot-rolled steel products originating from India and China. After review, the Department of Trade Defense announced that the documents were complete and valid according to the provisions of Decree 10/2018 of the Government detailing a number of articles of the Law on Foreign Trade Management on trade defense measures.
Imports of hot-rolled steel from China are greater than domestic production
According to regulations, from the date of the official dispatch notifying of the complete and valid dossier, the investigating agency has 45 days to review the detailed contents of the dossier and the basis for conducting the investigation. Based on the results of the review and recommendations of the investigating agency, the Minister of Industry and Trade decides to investigate or not to investigate the case.
Previously, at the end of March, two hot-rolled steel manufacturers, Hoa Phat and Formosa, submitted a request for an investigation to apply anti-dumping measures on some hot-rolled steel (HRC) products originating from India and China. The reason is that HRC steel from these two countries has been massively imported into Vietnam recently and the selling price is lower than the amount of imported goods from other countries, affecting domestic production.
Specifically, in May, the total volume of HRC products imported into Vietnam increased by 20% compared to April. In the first 5 months of the year, HRC products imported into Vietnam from other countries reached more than 5 million tons. Of which, HRC products originating from China alone reached nearly 3.7 million tons, accounting for nearly 75% of the total volume of products imported into Vietnam. At the same time, the price of HRC from China is 48 - 186 USD/ton lower than other countries.
Notably, the amount of hot-rolled steel products imported into Vietnam in the first 5 months of the year was equal to 176% of the domestic production, equivalent to nearly double the amount of this product produced domestically at only nearly 2.86 million tons. HRC steel from China alone also surpassed domestic production.
Source: https://thanhnien.vn/ho-so-de-nghi-dieu-tra-chong-ban-pha-gia-thep-can-nong-trung-quoc-hop-le-185240615092103525.htm
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