Vietnam HRC steel is at risk of being sued by the EU against anti-dumping - Photo: CONG TRUNG
Vietnam has just initiated an anti-dumping investigation of Chinese HRC hot-rolled steel, and the European Commission (EC) has "examined" HRC steel originating from Vietnam. This is an unexpected development in the steel industry, many businesses are facing difficulties when all kinds of difficulties are happening at the same time.
Having just initiated an investigation into Chinese steel, Europe is investigating Vietnamese HRC steel
The Trade Remedies Department - Ministry of Industry and Trade informed that on July 30, this agency received information that the EC had received a complete and valid dossier requesting an investigation to apply anti-dumping measures on products. Non-alloy or alloy hot-rolled steel coil products imported from Vietnam.
In case of initiating an investigation of the case, the EC will send the relevant parties documents including the request, the decision to initiate the investigation and the investigation questionnaire.
"The Trade Defense Department recommends that businesses exporting products that are required to investigate monitor the case and have appropriate response plans" - this agency informed.
The EC side requests to provide a complete list of addresses, contact persons, and emails of the steel exporter in the complaint, no later than August 5, 8.
Previously, on July 29, the Ministry of Industry and Trade announced a decision to initiate an anti-dumping investigation of HRC steel from China and India after a period of considering the requests of two enterprises Hoa Phat, Formosa Ha Tinh and Formosa Ha Tinh. Opinions of related businesses.
Vietnamese businesses pour billions of dollars in investment, waiting for autonomy in HRC steel sources
HRC steel is an upstream raw material for the production of galvanized, cold-coated, color-coated steel products, steel pipes, and other steel products used in many applications in the construction, mechanical and industrial sectors. other.
As an important commodity, with the increase in HRC steel imports, the domestic manufacturing industry will certainly encounter difficulties, thereby making it unable to autonomously produce other downstream products. However, investing in the production of this type of steel is not easy. Currently, Vietnam has two enterprises, Hoa Phat and Formosa, producing HCR steel with a total investment of up to billions of dollars.
According to records, HRC steel output in the second quarter of 2 decreased by 2024% compared to the previous three months. The cause was determined to be difficulties in consumption in both domestic and export markets.
However, the amount of low-priced HRC steel flooding into Vietnam in the first half of this year amounted to 6 million tons, an increase of 1,5 times compared to the same period in 2023, which has partly put great pressure on HRC steel consumption in the domestic market. produced by domestic enterprises.
HRC prices in the Vietnamese market increased in the short term in February 2 but decreased continuously from March to the end of the second quarter of this year.
The export market also has many challenges from the surplus of hot rolled steel as well as the strengthening of trade defense measures in importing countries.
Sources: https://tuoitre.vn/thep-hrc-viet-nam-nguy-co-bi-uy-ban-chau-au-dieu-tra-chong-ban-pha-gia-20240730191103798.htm
