Vietnam imposes anti-dumping tax on hot-rolled steel from China

Hot-rolled steel from China to Vietnam will be subject to anti-dumping tax from July 6 (illustrative photo)

The Ministry of Industry and Trade has just officially decided to impose anti-dumping tax on some hot-rolled steel (HRC) products imported from China, ending the investigation into similar products from India.

According to the decision, the anti-dumping tax on some Chinese hot-rolled steel products ranges from 23.1 - 27.83%, applied from July 6 and lasting for 5 years.

The products subject to the tax are flat-rolled, hot-rolled steel or alloy steel, with a thickness of 1.2 - 25.4 mm, width not exceeding 1,880 mm. The products have not been surface treated such as pickling, plating, coating or oiling and have a carbon content not exceeding 0.3%. Some items such as stainless steel or hot-rolled steel in plate form are on the exclusion list.

Previously, since March, the operator has imposed a provisional tax on hot-rolled steel coil from India and China of about 19.38 - 27.83%. Manufacturers not subject to the official tax this time will be refunded the anti-dumping tax previously paid.

The decision was made after the Ministry of Industry and Trade launched an anti-dumping investigation into some hot-rolled steel products originating from India and China in the period from July 1, 2023 to June 30, 2024. The investigation was initiated last year after the agency received a request from two enterprises representing the domestic manufacturing industry, Hoa Phat Dung Quat Steel Company and Hung Nghiep Formosa Iron and Steel Company Limited.

The investigation results of the Ministry of Industry and Trade show that hot-rolled steel imported from China and India was being dumped, causing damage to the domestic manufacturing industry. However, the amount of imports from India was assessed as "insignificant, accounting for less than 3% of total imports".

The Ministry of Industry and Trade confirmed that the tax rate was imposed after the investigation agency determined that there was a link between cheap steel from China flooding the market and significant damage to the domestic steel industry.

TB (according to VnExpress)

Source: https://baohaiphongplus.vn/viet-nam-ap-thue-chong-ban-pha-gia-thep-can-nong-tu-trung-quoc-415718.html