In the first 9 months of 2024, Vietnam imported nearly 8,8 million tons of hot rolled coil (HRC), up 26% over the same period in 2023 and equal to 171% of domestic production.

According to data from the General Department of Customs, hot-rolled coil (HRC) imports to Vietnam reached 1,2 million tons, up 34% compared to August and equal to 8% of domestic production output.

In the first 9 months of 2024, Vietnam imported nearly 8,8 million tons of HRC, an increase of 26% over the same period in 2023 and equal to 171% of domestic production.

Of which, the amount of HRC steel imported from China accounts for 72%, equivalent to 6,3 million tons, far exceeding the amount of products consumed by domestic manufacturing enterprises, which only reached 5,1 million tons. 

Chinese hot-rolled steel coil accounts for the majority of imports into Vietnam mainly because the selling price from this market is lower than other markets.

In 2023, the total import volume of HRC steel into Vietnam will be 9,64 million tons, an increase of more than 1,5 million tons compared to the import volume in 2022 of 8,1 million tons.

Thus, the amount of imported HRC continues to flow into Vietnam, even after Ministry of Industry and Trade Issue a Decision to investigate and apply anti-dumping measures on imported HRC products originating from India and China from the end of July 7.

On March 19, 3, the Department of Trade Defense received a request for investigation to apply anti-dumping measures on some hot-rolled steel products originating from the Republic of India and the People's Republic of China from two enterprises representing the domestic manufacturing industry, namely Steel Joint Stock Company Hoa Phat Dung Quat and Formosa Ha Tinh Steel Corporation.

Based on the request dossier, the Investigation Agency has conducted an appraisal and issued official dispatches requesting additional and clarifying information and content on product scope, grounds for determining dumping behavior as well as such as signs of causing damage or threatening to cause significant damage to the domestic industry and a cause-and-effect relationship between dumping and damage to the domestic industry.

By May 31, 5, the Investigation Agency had conducted an appraisal and issued official dispatches requesting additional and clarifying related information and then confirmed that the request dossier was complete and valid. .

The investigation period to determine dumping behavior is from July 1, 7 to June 2023, 30. The investigation period to determine damage is from July 6, 2024 to June 1, 7.

Previously, the Ministry of Industry and Trade was assigned to preside over and coordinate with the Ministry of Finance and relevant agencies to review and grasp the situation of increased hot-rolled steel imports. Thereby, proactively implementing appropriate, timely and effective measures according to authority and legal regulations, protecting the legitimate interests of the domestic manufacturing industry in accordance with international practices and a fair competitive environment.

Source: Vietnam.vn
 

• USTR Makes Findings and Proposes Action in 60 Section 301 Investigations Relating to Failures to Take Action on Trade in Forced Labor Goods
• [VCCI] The US officially initiates a Section 301 Investigation into Vietnam on Intellectual property
• General Secretary and President To Lam's working visit to three ASEAN countries: Demonstrating the stature of proactive and constructive diplomacy.
• Viet Nam accelerates innovation drive as skilled workforce becomes key to science and technology growth
• The US is increasing controls on AI chip exports