Vietnamese HRC exports may face an EU anti-dumping investigation

The European Commission (EC) has informed Vietnam that it has received a request to initiate an anti-dumping investigation on imports of hot-rolled coils (HRC). The Saigon Times writes about it.

A statement from Vietnam’s Trade Defense Administration under the Ministry of Industry and Trade said the EC had received a full and valid application to investigate possible dumping of HRC supplies of both alloy and non-alloy steel from the country.

It is noted that if an investigation is launched, the EC will send the necessary documents to the relevant parties.

Market participants had been anticipating an EU investigation into Vietnamese HRC imports, Argus Media said, as volumes began to rise. In 2023, 1.13 million tons of Vietnamese hot-rolled coils were imported to the block, compared to 400,000 tons in 2022. Vietnam has often been the lowest-priced supplier in the market, targeting primarily large buyers and mainly commodity-grade products.

In addition, there is talk in the market that an investigation may also be launched into Vietnam’s hot-dip galvanized sheet.

The European Commission may soon initiate an anti-dumping investigation against some exporting countries that supply the European Union with hot-rolled coils under the quota of «other countries». During the first half of the year, some key players in this category sharply increased steel imports from China, in particular Vietnam, to more than 4.2 million tons compared to 6 million tons in 2023. Thus, Chinese products can enter the EU as re-exports from countries subject to quotas.

As GMK Center reported earlier, Vietnam’s Ministry of Industry and Trade has launched an anti-dumping investigation on some types of hot-rolled coil originating in China and India. Its initiators are local metallurgical companies Hoa Phat Group and Formosa Ha Tinh Steel. They expressed their intentions as early as March 19 of this year, and on May 31 a full petition was submitted with additional information requested by the authorities.