The Ministry of Industry and Trade of Vietnam has initiated an anti-dumping investigation into certain hot-rolled coils (HRC) imported from China and India.
The investigation targets HRC products with thicknesses ranging from 1.2 to 25.4 mm and widths not exceeding 1880 mm, covered under specific 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.
This inquiry was prompted by complaints from local steel producers Hoa Phat Group and Formosa Ha Tinh Steel, who filed a formal petition on May 31. The investigation will assess potential dumping activities over a period from July 1, 2023, to June 30, 2024, while the evaluation of injury claims will cover a three-year span starting from July 1, 2021. The entire investigation process is expected to last up to 12 months, with a maximum extension of 18 months if necessary.
Despite the initiation of this investigation, many Chinese suppliers are skeptical that Vietnam will impose anti-dumping measures. Meanwhile, Indian producers are closely watching the developments.
Between January and May 2024, Vietnam's imports of hot-rolled products surged by 61.8% year-on-year, reaching nearly 4.9 million tons. Notably, imports from China increased by 107% year-on-year to 3.62 million tons, while imports from India fell by 32.7% to 152,750 tons. Consequently, China's share of the Vietnamese market rose to 74%.
The timing of this investigation aligns with Hoa Phat Group's plans to expand its production capacity from 5.6 million tons to 11.2 million tons annually by the first quarter of 2025.
Comments
No comment yet.