In particular, it will apply to hot-rolled coils with a thickness of 1.2-25.4 mm and a width of no more than 1880 mm
The Ministry of Industry and Trade of Vietnam has launched an anti-dumping investigation into certain types of hot rolled coils (HRC) originating from China and India.
The anti-dumping investigation concerns hot-rolled coils with a thickness of 1.2-25.4 mm and a width of no more than 1880 mm. The relevant products are represented by HS codes 7208.25.00, 7208.27.19, 7208.27.99, 7208.36.00, 7208.37.00, 7208.38.00, 7208.39.20, 7208.39.40, 7208. 39 .90, 7208.51.00, 7208.52 .00, 7208.53.00, 7208.54.90 and 7208.90.90, as well as 7211.14.15, 7211.14.16, 7211.14.19, 7211.19.13, 7211.19.19, 7211.90.12, 7211.90.19, 7225.30. 90, 7225.99.90, 7226.91.10, 7226.91.90, 7226.99.19 and 7226.99.99.
The investigation was initiated by local steel companies Hoa Phat Group and Formosa Ha Tinh Steel. They expressed their intentions back on March 19 this year, and on May 31, they submitted a full petition with additional information requested by the authorities.
The investigation period for the dumping assessment is from July 1, 2023, to June 30, 2024, and for the injury assessment – three years from July 1, 2021. The investigation can last up to 12 months and should not exceed 18 months if extended.
At the same time, the vast majority of Chinese suppliers do not believe that Vietnam will introduce any anti-dumping measures. Indian manufacturers will be monitoring the situation.
During January-May 2024, Vietnam imported almost 4.9 million tons of hot-rolled products, which is 61.8% more y/y. During this period, China increased deliveries by 107% y/y, to 3.62 million tons, and India decreased by 32.7% y/y, to 152.75 thousand tons. The share of Chinese production increased to 74%
The decision coincides with the completion of the second stage (Q1 2025) of Hoa Phat Group’s production capacity expansion from 5.6 million tons to 11.2 million tons of steel per year.
As reported earlier, the European Commission may soon initiate an anti-dumping investigation against some exporting countries that supply hot-rolled coils to the EU under the “other countries” quota. Some key exporting countries under this quota sharply increased their steel imports from China in the first half of this year, including Vietnam, to more than 4.2 million tons compared to 6 million tons in 2023. Thus, Chinese products may enter the EU as re-exports from countries subject to the quota.
Read more: UK traders propose to remove hot-rolled coil from safeguard measures – Argus
Vietnam Steel by Hoa Sen Group
