Last year, the Ministry of Industry and Trade launched an anti-dumping investigation into certain hot-rolled coil (HRC) steel products originating from India and China for the period from July 1, 2023, to June 30, 2024. The investigation was initiated after receiving requests from two representative domestic producers, Hoa Phat Dung Quat Steel Company and Formosa Ha Tinh Steel Corporation.
On February 21, the Ministry of Industry and Trade issued Decision 460, applying a temporary anti-dumping duty on certain hot-rolled coil (HRC) steel products from India and China. The temporary anti-dumping duty on Chinese-origin goods under investigation ranges from 19.38% to 27.83%, effective from March 8.
For products under investigation from India, the investigation revealed dumping practices, but due to the insignificant import volume (less than 3%), Indian products have been excluded from the temporary anti-dumping duty.
The Ministry of Industry and Trade stated that it follows the provisions of the Law on Foreign Trade Management during the investigation process. The ministry has coordinated with relevant agencies to assess the impact of the dumping behavior of imported goods on domestic production. The degree of dumping by Indian and Chinese producers and exporters has also been carefully examined.
According to customs data, imports of hot-rolled steel from China reached 12.6 million tons last year, a 33% increase compared to 2023. Notably, even after the Ministry of Industry and Trade initiated the investigation in July 2024, imports of hot-rolled steel from this market continued to rise significantly.
Therefore, the Ministry of Industry and Trade has considered applying a temporary anti-dumping measure. This action aims to prevent the rapid increase in hot-rolled steel imports, which could cause significant harm to domestic production in the near future.
According to regulations, the authorities will continue working with relevant parties to collect and verify information and reach a final conclusion. This will be based on a comprehensive impact assessment of the case.
