Vietnam to hold consultation of anti-dumping investigation over import steel

Vietnam is scheduled to hold a consultation of anti-dumping investigation over several certain cold-rolled stainless steel products originating from China, China' s Taiwan, Indonesia and Malaysia in capital Hanoi on June 6, said Vietnam's Ministry of Industry and Trade (MoIT) on Monday.

Each relevant party may send a maximum of three representatives to the hearing, said the Vietnam Competition Authority (VCA) under MoIT, adding that presence at the hearing is optional and all sides' interest regarding anti-dumping measures will be ensured following Vietnamese law.

The investigation on several types of imported cold-rolled stainless steel to Vietnam was started up as two companies including POSCO Vietnam Stainless Steel, and Inox Hoa Binh sent proposals to the MoIT in requesting for imposing anti-dumping taxes of average of 20 percent to products originating from China, China's Taiwan, Indonesia and Malaysia.

Accordingly, prices of cold-rolled stainless steel imported from the above-mentioned markets stand 25 percent lower than those in Vietnamese domestic market, and even lower than those in their markets. This has made negative impacts on Vietnam's domestic production including decreasing productivity, turnover and sales, as well as increasing loss and inventory, said the proposal.

Right after the proposal, VCA implemented investigation of anti- dumping on these products, from April 1, 2012 to March 31, 2013, state-run radio VOV quoted MoIT as saying on Monday.