In these challenging market conditions, the amount of H-beam steel imported from China has increased rapidly. While 10,671 tons of H-beam steel were imported from China in the first half of 2022, this figure increased sharply in the second half of the year and reached 37,658 tons. In 2023, the import amount increased to 55,674 tons, and 16,724 tons of H-beam steel of Chinese origin were imported in the first three months of 2024 alone.
Low-priced steel products from China have the potential to disrupt market order and endanger user safety. In order to take precautions against these risks, the Vietnamese government began to impose anti-dumping duty (AD) on low-priced H-beam steel products imported from China. However, imports of these products from China continue to increase. Chinese exporters are demanding the Vietnamese Ministry of Industry and Trade to reduce the anti-dumping duty rate.
The flow of cheap Chinese imports is disrupting Vietnam's market order and negatively affecting the activities of domestic steel enterprises. In the face of this situation, Posco Yamato Vina Steel (PYVina), one of Vietnam's leading steel producers, announced that its H-profile steel sales volume decreased from 208,000 tons in 2022 to 195,000 tons in 2023. In the first quarter of 2024, this figure dropped to 39,000 tons. PYVina sent a letter to the Vietnam Steel Association (VSA) expressing concern about the increase in imports from China.
The Vietnamese government aims to promote domestic production for the independent and sustainable development of the construction industry. High-quality domestic H-beam steel supports the development of the domestic construction materials production industry, ensuring the quality and progress of important construction projects.
A representative from the Vietnam Steel Association (VSA) stated that Chinese companies will report to relevant institutions and departments after receiving PYVina's official notification regarding the request for anti-dumping duty review.
Comments
No comment yet.