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
European Commission eyes stricter limit on tariff-free steel imports
The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.
Trump says exceptions could exist on reciprocal tariffs
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.
CRU: Countries start protecting steel in world of 25% US tariffs
These developments come at a time when the global trading system has been shaken up by US President Donald Trump’s greater use of tariffs, including employing Section 232 legislation to impose a 25% levy on steel from all countries to protect national security.
European Commission makes public steel action plan
The European Commission unveiled A European Steel and Metals Action Plan aimed at safeguarding the European Union’s steel and base metals production.
Trump says no exemptions on steel, aluminum tariffs: Report
President Trump said he has no plans to create exemptions on the recently enacted steel and aluminum tariffs, according to media reports.