Vietnam investigates imported hot-rolled coil from China, India

Under Decision 1985/QD-BCT, the steel products under investigation are coded 7208.25.00, 7208.26.00, 7208.27.19, 7208.27.99, 7208.36.00, 7208.37.00, 7208.38.00, 7208.39.20, 7208.39.40, 7208.39.90, 7208.51.00, 7208.52.00, 7208.53.00, 7208.54.90, 7208.90.90, 7211.14.15, 7211.14.16, 7211.14.19, 7211.19.13, 7211.19.19, 7211.90.12, 7211.90.19, 7224.30.90, 7225.99.90, 7226.91.10, 7226.91.90, 7226.99.19, and 7226.99.99.

The investigation will be conducted in accordance with Vietnamese trade defence laws and will take effect from the date of signing on July 26.

In March 2024, steel manufacturers Hoa Phat Group and Formosa Ha Tinh Steel Corporation sent a request to the Trade Remedies Authority of Vietnam demanding an anti-dumping investigation into hot rolled coil products imported from China and India.

The reason behind this request was a sudden increase in imported steel volume, along with a sharp decrease in the price of HRC steel from both China and India.

The investigation agency also sent letters to the Embassies of India and China in Vietnam informing them of the receipt valid request documents.

The dumping period of investigation is from July 1, 2023, to June 30, 2024, according to the decision.

Data released by the General Department of Vietnam Customs shows Vietnam imported nearly six million tonnes of HRC in the first half of the year, a 32% increase year on year. This represents 173% of domestic production, with 74% coming from the Chinese market and the remainder from Taiwan (China), the Republic of Korea, India, Japan, and elsewhere.

Six-month HRC steel import turnover reached US$3.46 billion, including US$2.5 billion from China.

Notably, HRC steel products imported from China had very low prices at an average of US$560 per tonne, which was US$45 to US$108 per tonne lower than other countries.