Vietnam examines hot-rolled coil imports from Malaysia, Thailand, and China

July 07, 2023 | 12:31
(0) user say
The domestic industry claims that Malaysian, Thai, and Chinese hot-rolled coil (HRC) products have been distributed in the Vietnamese market.
Vietnam examines HRC imports from Malaysia, Thailand, and China
Photo: Hoa Phat Group

The Ministry of Industry and Trade has issued Decision No.1704/QD-BCT dated July 5 regarding the investigation and application of anti-dumping measures against HRC products from Malaysia, Thailand, and China (Case No.AD17).

The probe began with a dossier for an investigation request to apply anti-dumping measures filed by an industry representative on August 9, 2022.

The Vietnamese industry believes that HRC products from Malaysia, Thailand, and China are being dumped in the domestic market, and that this behaviour is the principal impediment to the development of Vietnam's prestressed steel cable industry.

Hoa Phat Group (HPG) is currently the only Vietnamese company capable of producing HRC and prestressed steel cables, thereby reducing the nation's reliance on imported steel sources. In the first half of 2023, HPG produced 2.9 million tonnes of steel billets and HRC, a decline of 27 per cent from the first half of 2022.

HRCs are steel cables that are braided for use as electrical lines and to bind together concrete blocks for construction projects.

EU extends import restrictions on steel EU extends import restrictions on steel

The EU persists in imposing safeguards on a number of Vietnam-imported steel products.

China places greater strain on Vietnamese steel industry China places greater strain on Vietnamese steel industry

China's efforts to bolster exports by slashing prices below $1,000 per tonne have exacerbated the already rising burden on the Vietnamese steel industry.

By Angela Nguyen

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional