Vietnamese Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân said that the Ministry of Industry and Trade (MoIT) received a proposal from two domestic manufacturing enterprises to launch an anti-dumping investigation for hot rolled sheet (HRC) imported from China.
Tân said that the Ministry has asked the parties to add to the proposal file, but no conclusion has been reached yet as to whether an investigation will be carried out, and added that the relevant institutions must resolve the incident in accordance with the existing regulations, and also examine the practice and evidence before reaching a final conclusion.
On March 19, 2024, Hòa Phát Group and Formosa Hà Tĩnh Steel Company submitted a request to the Vietnam Trade Promotions Authority to initiate a dumping investigation on HRC products imported from China to Vietnam. This request was made due to the significant increase in the amount of steel imported from China and the significant decrease in the price of hot rolled sheet steel from China. However, seven other steel and galvanizing sector companies have opposed the launch of dumping investigations on hot-rolled sheet imported from China to Vietnam, concerned about the possible negative effects on the steel industry and the Vietnamese economy.
These companies highlight the critical role of hot rolled sheet as a basic material in various industries and highlight possible disruptions in the hot rolled sheet supply chain. Currently, only Hòa Phát and Formosa Hà Tĩnh produce hot rolled sheet in Vietnam. Import data reveals a significant increase in iron and steel imports to Vietnam, especially from China, accounting for a significant portion of hot rolled sheet imports.
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