Vietnam’s Ministry of Industry and Trade (MOIT) has extended anti-dumping duty (AD) imposed on Chinese H-beam to protect the domestic market from the lower-priced imports.
The final ruling in October end, after a review, has maintained 19.30pc-29.17pc duties on the H beams imported from China.
Along with H beams, duties are also applicable to the products with HS codes 7216.33.11, 7216.33.19, 7216.33.90, 722.70.10, and 722.70.90, effective Oct 25, 2020, to Sept 5, 2022.
In March 2017, Vietnamese steelmaker POSCO SS Vina had applied for an AD investigation on imports of H-beams imports from China (including Hong Kong). After the investigation, the Vietnam government had levied the abovementioned tariffs.
In September, Vietnam Steel Association (VSA) member mills registered a rise in output by 2pc from August and by 21pc from the prior year to 2.35mn mt. Exports rose by 7.7pc from August and by 36.5pc from the prior year to 497,535mt. Vietnam’s GDP is likely to increase in 2020 despite the COVID-19 outbreak indicating faster recovery for the local steel industry.