Thailand will impose anti-dumping tariffs on steel products imported from Vietnam, including steel pipes, according to the Vietnam chamber of commerce.
A Thai commission probing dumping and subsidies, decided to impose anti-dumping duties ranging from 6.97pc-51.61pc on cif prices with immediate effect.
The domestic steel industry in Thailand claims it has been significantly affected due to cheaper steel products being imported from Vietnam.
According to Davis Index analysis, Thailand imported 104,285mt of bars and rods, and 120,367mt of flat rolled products in 2019, from Vietnam.
On Feb 24, an anti-sell investigation was completed, for products including 169 HS codes, imported from Vietnam.
The imports of related steel products used to manufacture goods for exports; products manufactured for special uses and classified under special categories, are exempt from the duties.
The antidumping duty will be applied for a maximum of five years and every year there will be a review to ensure an applicable tax rate is being maintained.
Post its budget announcement in January 2020, Thailand’s new civilian government is focused on reversing the utilisation rates which dropped below 50pc in the second half of 2019.
The country produces 4mn mt per annum of crude steel and is a major importer of scrap.
In 2019, on lower consumption demand, Thailand’s ferrous scrap imports dropped to 1.05mn mt from 1.72mn mt in 2018.
As much as 60pc of the nation’s wire-rod demand is met by imports.