Steel pro­duc­ers face anti-dump­ing law­suits

More suits are be­ing filed every month in the midst of fierce com­pe­ti­tion

Viet Nam News - - BUSINESS -

HAØ NOÄI — A re­cent rise in an­tidump­ing law­suits in the lo­cal steel in­dus­try has steel­mak­ers wor­ried.

Sta­tis­tics from the Vieät Nam Steel As­so­ci­a­tion (VSA) show that in the first eight months of the year, steel ex­ports were 41 per cent higher than in the same pe­riod last year, reach­ing 4.5 mil­lion tonnes worth US$2.99 bil­lion.

The ASEAN re­gion re­mains the big­gest mar­ket for Viet­namese steel. Cam­bo­dia ac­counted for the largest por­tion of Vieät Nam’s to­tal steel ex­ports at 34.9 per cent, fol­lowed by Malaysia, In­done­sia, the Philip­pines and Thai­land.

However, the as­so­ci­a­tion said the do­mes­tic in­dus­try faced fierce com­pe­ti­tion from im­ported steel and anti-dump­ing law­suits from im­porters.

Ac­cord­ing to the Trade Reme­dies Au­thor­ity of Vieät Nam un­der the Min­istry of In­dus­try and Trade, the sec­tor faced 10 such law­suits in Au­gust. Steel has always been the most pros­e­cuted in­dus­try with eight law­suits per month.

The Thai Min­istry of Com­merce ex­tended a safe­guard mea­sure for non-al­loy and non-coil coated steel sheets for the se­cond time. The EU has ap­plied pro­vi­sional safe­guards in its in­ves­tiga- tion of three Viet­namese steel prod­ucts. The Malaysian Min­istry of In­dus­try and Trade has ini­ti­ated anti-dump­ing in­ves­ti­ga­tions for cer­tain iron and steel prod­ucts made of ore im­ported from China and Vieät Nam.

In ad­di­tion, the US Depart­ment of Com­merce (DOC) is in­ves­ti­gat­ing un­sub­sidised steel prod­ucts im­ported from Vieät Nam due to sus­pected tax eva­sion.

Econ­o­mists said the ris­ing num­ber of law­suits was un­avoid­able as Vieät Nam’s econ­omy had in­te­grated into the re­gional and world economies.

However, the fact that fa­mil­iar ASEAN mar­kets such as Thai­land and Malaysia also ini­ti­ated law­suits was a worry for Vieät Nam’s steel in­dus­try.

For this rea­son, the MoIT was sup­port­ing steel­mak­ers in inves-

tiga­tions while help­ing them im­prove com­pet­i­tive­ness and stop re­ly­ing on im­ported ma­te­ri­als.

In ad­di­tion, steel pro­duc­ers should keep close tabs on the whole pro­duc­tion process to be able to dis­prove ac­cu­sa­tions of evad­ing taxes. — VNS

A pro­duc­tion line at the Thaùi Nguyeân Iron and Steel Cor­po­ra­tion. — VNA/VNS Photo Hoaøng Nguyeân

Newspapers in English

Newspapers from Viet Nam

© PressReader. All rights reserved.