Vietnam imposes provisional duties on hot-rolled coils from China

Vietnam’s Ministry of Industry and Trade has announced the introduction of temporary anti-dumping duties on imports of hot rolled coils (HRC) from China, Reuters reports.

The duties range from 19.38% to 27.83%. The tariff on hot-rolled steel will come into effect on March 7 and will be in force for 120 days.

The companies subject to the 27.83% duty include Baoshan Iron & Steel (Baosteel) and Maanshan Iron & Steel. A 19.38% duty was imposed on Guangxi Liuzhou Iron and Steel Group.

Vietnam launched an anti-dumping investigation following complaints from Vietnamese producers in July last year. In January-September 2024, the country imported almost 8.8 million tons of hot-rolled steel, 72% of which came from China. The temporary tariffs are aimed at protecting local producers after a sharp rise in Chinese imports.

The proportion of imports from India is minimal (less than 3%), so HRC from this country will not be subject to these temporary anti-dumping duties.

As GMK Center reported earlier, South Korea is imposing provisional anti-dumping duties on Chinese companies on imports of heavy plates used in shipbuilding and construction. The tariff rate will range from 27.91% to 38.02%. These duties are to take effect as soon as they are approved by the Ministry of Economy and Finance. The investigation began in October 2024, preceded by Hyundai Steel’s July request.