The Vietnamese Ministry of Industry and Trade plans to announce the results of the preliminary investigation under the counter anti-dumping case (No. AD20) for imported hot-rolled products from China and India no later than November 2024. The Ministry announced that it will analyse the impact of the results on domestic production enterprises and take provisional anti-dumping measures in case of losses.
Increasing exports of Chinese steel are threatening Vietnam's steel industry. Shinhan Securities Vietnam (SSV) notes that this is a major concern for domestic enterprises. Over the past two years, the volume of Chinese steel imported into Vietnam has almost doubled to 7.23 million tons. The results of the anti-dumping investigation to be announced next month are expected to ease the competitive pressure on domestic enterprises by reducing these imports.
In addition, Australia and Thailand have launched anti-dumping investigations into Vietnamese steel products. Analysts expect domestic steel enterprises to perform better in 2024. Vietnam's steel industry has improved its capacity to compete with imported goods thanks to trade solutions in recent years.
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