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US reduces anti-dumping duty on Vietnamese steel

Update: May, 31/2014 - 09:38
Welded stainless steel pressure pipes imported from Viet Nam into the US will be applied an anti-dumping tax of 16.25 per cent. The US International Trade Commission will announce its final decision on July 6. — Photo baocongthuong

HA NOI (VNS)— The US Department of Commerce (DOC) has issued its final decision to impose an anti-dumping duty on welded stainless steel pressure pipes imported from Viet Nam, Malaysia and Thailand.

According to the Viet Nam Competition Authority under the Ministry of Industry and Trade, the Sonha International Corporation, Mejonson Industrial Viet Nam Company, Ltd and other Vietnamese manufacturers and exporters will have to pay an anti-dumping duty of 16.25 per cent. Earlier, on December 31, 2013, DOC had made a preliminary decision of applying such a duty, ranging from 17.72 per cent to 53.91 per cent, on Vietnamese enterprises.

Meanwhile, DOC has set dumping margins ranging from 22.7 per cent to 167.11 per cent on Malaysian imports, and from 23.89 per cent to 24.01 per cent on Thai firms.

The US International Trade Commission (USITC) will issue the final decision on July 6. If the order says that the stainless steel pressure pipes imported from Viet Nam, Malaysia and Thailand do not cause any losses or threaten the domestic manufacturing industry in the US, the investigation will end without an anti-dumping duty being imposed.

In case the USITC announces that the imports cause losses or pose threats, the DOC will apply an anti-dumping duty from July 13.

In 2013, the total value of the stainless steel pressure pipes imported from Viet Nam, Malaysia and Thailand into the American market is estimated to have been worth US$10.3 million, $11.9 million and $16.9 million, respectively.

Steel consumption

The country's steel consumption in May was lower than expected, reaching only 411,600 tonnes, down 15.5 per cent against the previous month, due to low demands in the domestic market, according to the Viet Nam Steel Association.

However, the consumption increased 6.5 per cent compared with the same period last year.

The association announced that due to the decline, steel producers had to cut production, churning out only 442,000 tonnes of steel, roughly 42,000 tonnes lower than that of last month.

In the first five months this year, steel producers sold a total of 2.063 million tonnes while producing roughly 1.981 million tonnes, up 5.31 per cent over the same period last year.

To boost consumption, steel producers have tried to cut input costs and brokerage costs to reduce sale prices. However, industry insiders still urged the producers to update their technologies as many of the producers still use outdated technologies that cause wastage of power.

The insiders also warned that many steel producers will face additional challenges when the country's steel designed output will reach roughly 40 million tonnes by 2015 after the Formosa steel complex in the central province of Ha Tinh is put into full operation with an output of 22 million tonnes per year.

This year, steel consumption is expected at 12.4–12.65 million tonnes. — VNS

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