HA NOI (VNS) — Two local steelmakers have filed a petition with the Viet Nam Competition Authority (VCA) under the Ministry of Industry and Trade (MoIT) saying imported cold-rolled stainless steel is being dumped on the local market.
The petition by Posco VST Co Ltd and Hoa Binh Inox Joint Stock Company called for anti-dumping measures against cold-rolled stainless steel imports from mainland China, Taiwan, Malaysia and Indonesia .
According to Article 10.4 of Ordinance 20/2004/PL-UBTVQH11 on anti-dumping of goods into Viet Nam, MoIT must issue a decision within 60 days on whether to initiate an investigation.
This is the third time local producers have filed a petition against imported products. The two previous cases were brought against float glass and vegetable oil imports.
Most stainless steel items enjoy a zero import tariff, except stainless steel with a circular cross-section, which is subject to a 10 per cent duty, according to Circular 193/2012/TT-BTC dated November 15, 2012, issued by the Ministry of Finance.
In October last year, the finance ministry brought forward the amended version of Circular 157/2011/TT-BTC dated November 14, 2011, raising the duty on cold-rolled stainless steel imports to 7 per cent from the previous 5 per cent.
Such an adjustment was made after Posco VST, the largest cold-rolled stainless steel producer in Viet Nam, complained about poor sales. — VNS