Trade Cases
CRU: Surge of Chinese steel imports causes concern in Vietnam
Written by CRU
July 8, 2024
The volume of steel shipped into Vietnam more than doubled in May to 1.1 million (mt), with China’s share above 70%, according to customs’ statistics. In the first five months, Chinese imports were more than 4.7 million mt, an increase of 91% year on year.
Vietnam’s steel companies are worried, especially as the domestic market is still struggling with a real estate downturn, Vietnam Steel Association chairman Nghiem Xuan Da said. “The oversupply of many domestic steel products and the increase in imported steel products will push domestic steel makers to lose market share,” Da was quoted as saying by the business publication Vietnam Investment Review.
Often the subject of anti-dumping investigations itself, in particular from the US, EU, and Australia, Vietnam is prepared to take action to protect the country’s steel industry. In June, the ministry of industry and trade launched an AD probe into allegations galvanized steel from China and South Korea is harming domestic producers.
This article was first published by CRU. To learn more about CRU’s services, visit www.crugroup.com.
Latest in Trade Cases
US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.
Leibowitz: When the shutdown should end
There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...
Price: The U.S. Steel shutdown that wasn’t and a call to stop ‘valuation cheating’
How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.
US steel industry applauds ITC final determination in coated trade case
Domestic mills praised the US International Trade Commission’s (ITC's) final determination that imports of corrosion-resistant (CORE) steel from 10 countries pose a threat to them.
ITC’s final ruling: Dumped, subsidized CORE imports are harming domestic market
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.