Vietnam’s Ministry of Industry and Trade (MOIT) is initiating an anti-dumping (AD) investigation into imports common carbon and alloy coated steel from China and South Korea, Mysteel Global learned from a latest release from China Trade Remedies Information under the country’s Ministry of Commerce.
The investigation covers the period of April 1 2023 to March 31 2024, but in order to assess injury, the Vietnamese government will examine the period from April 1 2018 to March 31 2024, according to the June 14 release.
The probe will investigate the import of over 40 different types of flat-rolled carbon steel products both in coil and non-coil forms, containing less than 0.6% carbon by weight and coated or plated with anti-corrosive metals (galvanized), according to the MOIT.
In late April, five Vietnamese steelmakers-Hoa Sen Group, Nam Kim Steel, Southern Steel Sheet, Ton Dong A Corporation and China Steel & Nippon Steel Vietnam-had petitioned the Hanoi government to launch an AD investigation, according to local media sources, claiming that imports from the two countries had caused them “significant injury”
The five petitioners are claiming dumping margins of 69.23% on imports of the coated coils from China, and 3.41% on those from South Korea, the Hanoi Times reported. On June 3, Vietnam’s Trade Remedies Authority issued a notice confirming that the petition lodged by the five mills was “complete and valid,” the daily added.
This is not the first time that Vietnamese sheet makers have targeted Chinese and South Korean galvanized imports in a dumping claim. Back in 2017, Vietnam imposed ADs on galvanized imports from China and South Korea, with the highest duty rate being 38.34% against China-origin coils, Mysteel Global noted.
In October 2019, Vietnam again targeted coated sheet imports from the two countries, this time imposing penalties of 2.53 to 34.27% on Chinese coated products and 4.71-19.25% on those from South Korea. The penalties, decided after a 120-day trial period, were imposed for five years.
If AD duties are imposed again this time on common carbon and alloy coated steel imports, Hoa Sen Group could be the biggest beneficiary, thanks to its 28.4% market share in the coated steel sector and 12.4% market share in steel pipes sector respectively, according to KB Securities Vietnam.
Meanwhile, also on June 14, the MOIT confirmed that it had received a similarly “complete and valid” request that it begins an AD investigation into hot-rolled coils imported from China and India. Whether an AD investigation will be initiated will be evaluated within 45 days, Mysteel Global learned from a new MOIT release.
This AD petition was lodged on March 19 by two leading flat rolled steel producers in Vietnam, Hoa Phat Group and Formosa Ha Tinh Steel Corporation, as reported.
Note: This article has been written in accordance with an article exchange agreement between MySteel Global and BigMint.