Hot-rolled steel products (HRC) originating from the Republic of India and the People’s Republic of China, classified under HS codes 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 (case number AD20), are subject to an anti-dumping investigation.
The period of investigation to determine dumping is set from July 1, 2023, to June 30, 2024. Photo: Hoang Ha |
The investigation will be conducted in accordance with Vietnam’s legal framework on trade remedies and took effect on July 26, 2024, the date of the issuance of the decision.
The decision to initiate the investigation was based on a petition filed by domestic producers in accordance with the Foreign Trade Management Law, alleging that hot-rolled steel producers from India and China are dumping their products in the Vietnamese market, causing damage to the domestic industry.
Upon receiving the petition, the investigating authority (Trade Remedies Authority) reviewed the petition, requested the petitioner to provide additional information and clarifications on certain allegations, and conducted an examination in accordance with the relevant regulations.
According to the Trade Remedies Authority, during the examination of the petition, the investigating authority consulted relevant agencies and units. In addition to the information provided by these agencies and units, the investigating authority also received opinions from several manufacturers of galvanized steel and steel pipes that use hot-rolled steel as raw materials. The investigating authority will carefully consider these opinions during the investigation and evaluate them based on the data collected and verified, which will be reflected in the investigation conclusions.
Based on the decision, the period for collecting data to evaluate dumping is set from July 1, 2023, to June 30, 2024, while the period for collecting data to evaluate the damage to the domestic industry is three years, from July 1, 2021, to June 30, 2024.
In accordance with legal regulations, after the initiation of the investigation, the investigating authority will send questionnaires to relevant parties to collect information for analyzing and evaluating: the dumping margin, the damage to the domestic hot-rolled steel industry, and the causal link between the dumped imports and the damage to the domestic industry. The investigating authority encourages relevant parties to cooperate and provide complete and accurate information as requested to protect their interests.
The investigating authority will verify the information provided by relevant parties before finalizing the official investigation conclusions. Additionally, the investigating authority will organize a public consultation to allow relevant parties to directly exchange information and express their views on the case before reaching a final conclusion.
The investigation will be completed within 12 months from the date of the decision to initiate the investigation, with a possible extension of up to 18 months in special cases.
The petitioner has also provided reasonable grounds to demonstrate the dumping of the investigated goods and has submitted data to determine the dumping margins of the goods from the Republic of India at 22.27% and from the People’s Republic of China at 27.83%.
Following this decision, the investigating authority will continue to consult information and conduct the investigation in accordance with the regulations. From the effective date of the decision to initiate the investigation until the conclusion of the investigation and the application of anti-dumping measures, the investigating authority may implement a system of import registration for the investigated goods to facilitate the investigation.
The import registration does not restrict the quantity, volume, or value of imported goods. The procedures for managing imports of investigated goods shall be carried out in accordance with the current regulations, and the Ministry of Industry and Trade will provide detailed instructions in case this measure is applied.
Retroactive anti-dumping duties may be applied
The Ministry of Industry and Trade also stated that, in the event that the final conclusion of the investigating authority determines that there is significant damage or threat of significant damage to the domestic industry, the Minister of Industry and Trade may decide to apply retroactive anti-dumping duties.
Retroactive anti-dumping duties may be imposed on imported goods during the 90-day period before the application of provisional anti-dumping duties if the imported goods are found to be dumped, and the volume or quantity of dumped imports into Vietnam increases rapidly during the period from the initiation of the investigation to the application of provisional anti-dumping duties, causing damage that is difficult to remedy for the domestic industry.
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According to customs statistics, in June 2024 alone, Vietnam imported 886,000 tons of hot-rolled steel coils (HRC), equivalent to 151% of domestic production, with imports from China accounting for 77%. In the first six months of the year, imports of HRC reached nearly 6 million tons, up 32% compared to the same period in 2023. These imports are equivalent to 173% of domestic production. Imports from China accounted for 74%, followed by Taiwan, South Korea, India, Japan, and other countries. The import turnover of HRC in the first six months reached 3.46 billion USD, with imports from China accounting for 2.5 billion USD. The average price of HRC imports from China was 560 USD/ton, 45-108 USD/ton lower than that of other countries. |
