Chinese steel into Vietnam, domestic steel reel

Cold rolled stainless steel: the re-investigation

 

Competition Administration Department, Ministry of Industry and Trade has issued a decision on investigation reviewing the application of anti-dumping measures on steel stainless cold rolled under 9 HS, are imported from China, Malaysia, Indonesia 06.09.2014 to 09.05.2015 date.

 

This decision stems from POSCO VST Co. Ltd. and JSC Inox Peace applicant requests a review and continuation of the anti-dumping duty steel China, Indonesia, Malaysia, arguing that the product concerned is still ongoing acts of dumping

 

Earlier in the month 9/2014, Ministry of Trade issued Decision No. 7896 / QD-BCT apply anti-dumping measures against certain products of cold rolled stainless steel in rolls or sheets, imported from 4 countries and territories, including China, Indonesia, Malaysia and Taiwan with duties ranging from 3.07% - 37.29%. This decision has a term of 5 years from date of 10/05/2014.

 

That was the first time Vietnam applied anti-dumping measures after Posco VST and Peace Inox apply to the Competition Administration Department anti-dumping goods, cold-rolled stainless steel imports from countries and the aforementioned territory in March 5/2013.

 

Posco VST known as investors in the field of cold-rolled stainless steel largest scale 184 million from 2009. Posco VST Representing the applicant has said, two producers in Vietnam Posco VST and Inox Hoa Binh Company has the ability to meet 80% of domestic market demand. If acts of dumping in Vietnam market is not prevented, surely, steel production enterprises in Vietnam will fall into bankruptcy.

 

Monitoring alloy billet

 

In another development related to the surge of non-alloy steel ingots and billets imported alloy and signs of trade fraud to enjoy 0% import duty, threatening domestic producers recently Deputy Prime Minister Hoang Trung Hai has asked the Ministry of Industry and Trade, Vietnam Steel Association (VSA) established a joint working group, check the import of steel, timely detection and treatment of behavioral imports , used improperly registered targets. At the same time the Ministry of Finance, General Administration of Customs also require close monitoring steel imports, steel, temporary clearance for inspection and treatment prescribed cases detected signs of infringement legal, commercial fraud, as defined HS to calculate accurate and full tax for the aforementioned products.

 

On 5/11, the Ministry of Finance held a meeting with VSA and steel enterprises in determining HS alloy steel products containing boron and chromium with import duties of 10% are expected to limit imports this group.

 

Before that, in calling for help sent to the authorities about the situation dramatically increased cheap imports billet from China into Vietnam, VSA also said that there is fraud, false declaration import codes for arbitrage tax. As of 15.09.2015, the volume of imported steel in Vietnam is 1,135 million tons, worth more than 421 million, up 290% from the same period last year. In particular, the amount of billet from China accounted for 70%.

 

The noteworthy point is that some companies imported Chinese steel ingot called billet alloy contains chromium element with HS 7224.90.00 to enjoy import tax rate of 0%. Only in the month 9/2015, billet imports with HS 62 017 tonnes of this was worth $ 20 million.

 

Worth mentioning is that the alloy contains chromium steel ingot after import is carried on to produce construction steel, instead of alloy steel is manufactured. The difference in tax rates between the current import square ingot steel imported to build the 9% and alloy billets have a 0% tax rate has caused losses to the state budget of about US $ 1.89 million in taxes in August and September.

 

Period 2013 - 2014, alloy steel containing Bo served as problems of the steel industry. But into 2015, Chinese enterprises have been replaced by the element boron and chromium to continue to enjoy the export tax refund rate.

 

According to calculations by the VSA, steel production capacity in the country of nearly 11 million tonnes but new businesses develop only about 60% of this capacity.

 

Mr. Tran Dinh Long, Chairman of Hoa Phat Group (HPG) acknowledged the problem of cheap steel is imported is difficult for Vietnam steel enterprises. "China not only devalue the yuan but also is a huge excess capacity, to a hundred million tons. A few plants have to point hole should be seeking to export products. This has led Chinese steel National overflow into Vietnam, causing pressure on the entire inner steel industry, "Mr. Long said.

 

According to Investment