The Ministry of Industry and Trade has issued provisional anti-dumping duties on certain coated steel products originating from China and South Korea.

The highest provisional duty rate applied is 37.13 per cent for products from China and 15.67 per cent for those from South Korea.

The Ministry, under Decision No. 914/QĐ-BCT, dated April 1, retains the right to amend or supplement the list of HS codes subject to these provisional duties to align with product descriptions under investigation and reflect any further changes.

Among Chinese exporters, Baosteel Zhanjiang Iron & Steel Co., Ltd. and affiliated companies are subject to a 37.13 per cent duty. Meanwhile, for South Korea, Hyundai Steel Company faces a 13.7 per cent duty, with other South Korean manufacturers and exporters incurring the 15.67 per cent rate.

However, some companies are exempted and benefit from a zero per cent duty. These include Boxing Hengrui New Material Co., Ltd. and Yieh Phui (China) Technomaterial Co., Ltd. of China, and POSCO, KG Dongbu Steel and Dongkuk Coated Metal in South Korea.

Throughout the investigation, the Ministry of Industry and Trade collaborated with relevant authorities to assess the impact of alleged dumping practices on the domestic industry, including the extent of dumping by Chinese and South Korean producers and exporters.

According to customs data, imports of the investigated goods reached 454,000 tonnes in the 12 months to the end of March 2024, marking a 91 per cent increase year-on-year.

Even after the launch of the investigation, imports of coated steel from China and South Korea continued to surge. In the last nine months of 2024 alone, imports rose to approximately 382,000 tonnes, a 20 per cent increase compared to the same period in the previous year.

Given the significant rise in imports, the Ministry deemed it necessary to apply provisional anti-dumping measures to prevent serious harm to the domestic industry.

The Ministry will continue on-site inspections of foreign producers and exporters and domestic importers as part of its investigation before issuing a final determination.

The provisional duties will be in effect for 120 days from the effective date of the decision, unless extended, amended, or revoked in accordance with Vietnamese law. — VNS

Read original article here