Vietnam’s Ministry of Industry and Trade (MOIT) has initiated an AD investigation against imports of Malaysian H-beams in response to a petition filed by local producers. The petition demanded measures to reduce imports which have caused major losses to the domestic industry.

 

Vietnamese domestic steelmakers had filed a request in order to initiate the AD investigation in November 2019. Domestic steelmakers were struggling with low profitability amid cheaper steel being imported into Vietnam.

 

Vietnam imported about 65,000mt of H-shaped beams from Malaysia in 2019. During the investigation period, over 17,000mt of H-beams were imported, according to the release. The investigation covers products with HS codes 7216.33.11, 7216.33.19, 7216.33.90, 7228.70.10, and 7228.70.90.

 

Meanwhile, major Vietnamese mills including Hoa Phat steel are targeting higher exports amid weak domestic steel demand. Hoa Phat Steel Sheet has recently signed a series of contracts for flat steel export to Asia, Europe, and Mexico. The country produced 2.14mn mt of crude steel in July 2020, up 17pc against 1.79mn mt in July 2019.

 

Vietnamese steel exports have more than doubled in June to 882,019mt from 428,361mt of steel in May. In July 2020, steel exports were 885,366mt, the data from Vietnam’s customs department showed.

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