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On February 28, 2025, the South Korean Ministry of Trade, Industry and Energy (MOTIE) decided to initiate an anti-dumping investigation into HRC imported from China and Japan. This decision was made based on a petition from domestic steel mills.For more information about the incident, follow the article below by MRS Group.Steel imports from China and Japan are under investigationDetails of the incidentPlaintiff: Hyundai Steel Co., LtdDefendant: Japan: JFE Shoji Corporation, Nippon Steel Trading Corporation, Sumitomo Corporation Global Metals Co., Ltd., Dongkuk Corporation, Seah Japan Co,. Ltd, Young Steel Co,.Ltd.China: Benxi Iron and Steel Group International Economic and Trading Co,. Ltd., Dalian Woo Ho Hongkong International Ltd., Howa Trading Co,. Ltd., Sharpmap International Hongkong Co,. Ltđ, and Sino Commodities International Pte,. Ltd.Items under investigation: Hot-rolled coilHS code: The products in question fall under the Harmonized Tariff Schedule of Korea numbers HSK: 7208101000, 7208109000, 7208251000, 7208259000, 7208261000, 7208269000, 7208271000, 7208279000, 7208361000, 7208369000, 7208371000, 7208379000, 7208381000, 7208389000, 7208391000, 7208399000, 7208400000, 7208531000, 7208539000, 7208541000, 7208549000, 7208900000, 7211130000, 7211141000, 7211149000, 7211191000, 7211199000, 7225301000, 7225309010, 7225309091, 7225309092, 7225401000, 7225309099, 7225409092, 7226200000, 7226911000, 7226912000 và 7226919000.The plaintiff in the case is Hyundai Steel Co,.LtdWhy does Korea impose tariffs on Japan and China? South Korea decided to investigate and possibly impose anti-dumping duties on HRC imported from Japan and China for the following main reasons:Dumping damages the domestic steel industryIn the petition, Hyundai Steel claimed that hot-rolled coil from Japan and China was priced 10-30% lower than the prices of Hyundai Steel's and POSCO's own products. This puts pressure on prices and profits at domestic manufacturing enterprises.Protect domestic industryThe steel industry is a strategic industry in Korea, contributing greatly to the economy and employment. Importing cheap steel in large quantities could make domestic producers unable to compete, leading to a decline in production. Specifically, according to information from the Korea Steel Association, from January 2024 to November 2024, Korea imported 3.43 million tons HRC, of which China was 1.53 million tons and Japan was 1.77 million tons, accounting for a total of 96.2% of total imports.Increased inventory and decreased profitsCheap steel from China and Japan is flooding the Korean market, causing domestic inventories to rise. This reduces revenue and forces businesses to reduce prices, directly affecting profit margin.Korea's steel industry is under threatWhat opportunities are there for Vietnam's steel industry?South Korea's investigation and the possible imposition of anti-dumping duties on HRC from Japan and China could open up many opportunities for the Vietnam steel industry.Increase steel exports to South KoreaIf anti-dumping duties are imposed, steel from China and Japan will become pricier in South Korea. This is an opportunity for Vietnamese steel enterprises to increase exports to this market with more competitive price advantages. Steel products that can be concentrated include hot-rolled coil, cold rolled coil, and galvanized steel coil.Expanding market share in Southeast AsiaChina may increase exports to Southeast Asian nations as a result of restrictions in South Korea. If Vietnam maintains and expands trade defense measures such as the recently applied anti-dumping duty, domestic enterprises can gain an advantage at home and in the region.Vietnam may increase exports to South Korea as China and Japan face tariffsOpportunities to increase domestic supply chainsIf it reduces its dependence on imported steel, the Vietnam steel industry can expand its domestic supply chain, from raw materials to finished products. This trait also helps reduce the risk of trade defense measures from abroad.Vietnam can take advantage of opportunities to boost exports hot-rolled coil to the Korean market. However, it also comes with significant challenges:Price competition: This is not only an opportunity for Vietnam but also for other countries in the region. Countries with low production costs will have a more competitive price advantage.Quality requirements: Korea and developed countries require high-quality standards, requiring Vietnam to invest more heavily in production technology.Sources of raw materials: Vietnam's steel production still relies heavily on imported materials, which puts pressure on costs.The article on MRS Group has provided you with the latest information about the case of Korea conducting an anti-dumping duty investigation against China and Japan. Stay tuned to MRS for the latest updates on the incident.

Türkiye announced that it will impose anti-dumping duties on hot-rolled coil imports from four countries: China, India, Russia, and Japan.To better understand the information about the incident, join MRS Steel and learn through the article below.Türkiye imposed anti-dumping duties on HRC import from 4 countriesDetails and developments of the incidentRecently, on October 11, Türkiye announced that it will impose anti-dumping duties on hot-rolled coil imported from China, India, Russia and Japan. Türkiye's action aims to protect its domestic steel industry, as hot-rolled coils are perceived to create unfair competition, causing damage to local enterprises.Türkiye mainly imports steel from countries such as Russia, China and India. Currently, China is the world's largest producer of steel, accounting for more than half the world's output at over a billion tons a year. However, the country's steel industry is facing many challenges and fluctuations as domestic demand continues to decline. This forces China to boost its exports to deal with inventory. Importing too much hot-rolled coil from China risks causing damage to domestic manufacturing enterprises.Changes in trade policy and pressure from anti-dumping measures have also affected the supply and prices of imported steel. Accordingly, the tax rate imposed on each country is different. China has the highest tax rate, ranging from about 15% to 43%, while the tax applied to imports from Russia, India, and Japan ranges from 6% to 9%. Products subject to customs tariffs fall under HS codes 7208, 7211, 7212, 7225, 7226. The new tariffs will affect about 4 million tons of imported steel products worth more than $2 billion. After the Government of Republic of Turkey made the decision, shares of leading Türkiye steel producers such as Erdemir and Isdemir all increased on the stock exchanges. Türkiye made the decision amid growing trade tensions between China and the European Union (EU).China is the country with the highest tax rateWhat opportunities for Vietnam's steel industry?As Türkiye imposes anti-dumping duties on steel imported from China, India, Russia, and Japan, the Vietnamese steel industry can take advantage of the following opportunities.Increase exports: The imposition of anti-dumping taxes on certain countries presents a great opportunity for the Vietnamese steel industry, as importers seek alternative sources of supply for products from countries subject to these taxes.Cooperation and investment: Vietnam's steel industry can seek cooperation and investment opportunities from international businesses, especially from countries that have a demand for steel but are facing difficulties due to anti-dumping taxes.Expand the market: The shortage of steel from countries subject to anti-dumping duties may create an opportunity for the Vietnamese steel industry to increase its market share in Türkiye.Participation in Regional Trade Agreements: Vietnam has several free trade agreements with Türkiye and other countries, which help reduce tariffs and facilitate steel exports to Türkiye.The article on MRS Steel has provided you with information about Türkiye's imposition of anti-dumping duties on hot-rolled coils imported from China, India, Russia and Japan. Follow MRS Steel to receive updates quickly, if you have any questions, please contact us here.

Which country exports the most steel? In 2023, world crude steel output will reach nearly 1.84 billion tons. China is the world's largest steel producer, providing more than 50% of global steel production.In the article below, we invite you to join MRS Steel to find out what country exports the most steel.What country exports the most steel? Find out more about MRS Steel in the article belowOverview of the global steel industry situationAccording to data from the World Steel Association (Worldsteel), crude steel output in 71 countries reached 148.1 million tons in January 2024, down 1.6% over the same period last year. In particular, crude steel production in some regions has grown and recovered, such as Iran (39.3%), Turkey (24.7%), India (7.3%),...Meanwhile, China's crude steel production is still decreasing over the same period in 2023. Specifically, China's crude steel output reached 77.2 million tons, down 7% over the same period in 2022. Manufacturers and other exporters also recorded a decrease in crude steel output, such as Brazil, the US, Germany,...Previously, in 2023, the crude steel output of 71 countries reached about 1.84 billion tons. China still maintains its position as the world's largest steel producer, followed by India and Japan.5 countries with the largest crude steel production in the worldMajor steel exporting countries in the world. What country exports the most steel?Below, MRS Steel will provide you with the top 5 countries biggest exporters of steel. And also find out what country exports the most steel.China - The world's biggest steel exportersAs the country with the largest steel industry globally, China accounts for over 50% of the world's steel output. In 2023, China's steel exports reached 90,264 up 36.2% over the same period last year, marking a near-record high. Export growth amid weak domestic demand reflects China's struggling real estate sector. China's 2023 steel exports to Southeast Asia and Central Europe see a significant increase. Among them, Vietnam and Turkey are two export markets with high levels of growth.Currently, China is also the world's biggest steel exporter. Every year, China provides more than 50% of global crude steel output. Therefore, this is also the reason why this country has become the biggest exporters of steel in the world.JapanRanked 2nd in the list of the biggest exporters of steel, in 2023 Japan produced 87,0 million tons, of which exports reached 32,7 million tons, up 1.2% over the same period last year. This is also one of the largest steel-exporting countries in the world. Japan's main export market is Korea with 5,6 million tons, up 3.8%; exports to China reached 2,85 million tons, down 28.9%; exports to Taiwan reached 1,6 million tons, down 12.4%; exports to Thailand reached 4,7 million tons, down 7.2%; and exports to the US decreased 3.1% to only 1,2 million tons.Although only producing 87,0 million tons, Japan exported more than 32 million tons, which shows that export output accounts for nearly 30% of the total steel output of the entire industry. With Japan's biggest steel exporters, Nippon Steel, having just agreed to acquire US Steel, it is predicted that by 2024, Japan's crude steel output will grow dramatically.Export volume and value of iron and steel products from Japan from 2014 to 2023KoreaAs one of the biggest exporters of steel, Korea will produce 66,7 million tons in 2023. However, according to SteelMint data, in the first half of 2023, Korea exported about 12,3 million tons of steel, up 3% over the same period last year. Currently, steel exports from Korea still have a high fluctuation range because this country is experiencing a decrease in domestic demand as well as crude steel output. Currently, Korean steel exports are still focused mainly on Asian markets and other developed countries.GermanyAs Europe's biggest steel exporters, in 2022 Germany exported about 29 million tons of steel, earning 36,9 billion USD. In particular, the largest export market is France with 10.1%, followed by Poland with 9.95%, Italy with 9.88%, the Netherlands with 4.48%, and Belgium with 7.48%. The remaining 10% belongs to other countries. In general, Germany's steel export market does not have many changes as it mainly exports to the European market, with the largest export items being galvanized steel and alloy steel products.ItalyItaly is one of the top 5 countries that export steel and ranked 2nd in Europe after Germany, by 2023, Italy's crude steel output will reach 21.1 million tons. According to the United Nations COMTRADE database on international trade, Italy's iron and steel exports in 2023 will reach 17.12 billion USD. Specifically, in the first six months of the year, Italy exported 7.5 million tons of steel, up 7% over the same period last year. Italy's main export markets are Germany, France, the United States, Spain, and Poland.Vietnam's steel exports grew outstandingAccording to statistics, in 2023 Vietnam domestic crude steel production reached nearly 19,2 million tons, ranking 13th in the world. In terms of export output alone, Vietnam's steel industry ranks 14th among the biggest exporters of steel. In 2023, according to the General Department of Customs, in the first 10 months of the year, Vietnam exported more than 9,1 million tons, an increase of 30.7% over the previous year, with the main export markets in the ASEAN region and the EU, the United States and India,... Among them, the EU market has emerged as a potential bright spot, accounting for about 26% of the steel export market share in this market each year. Of which, Italy is the country that imports the most steel from Vietnam with over 1,35 million tons, growing by 128%, Belgium imports 0,49 million tons, growing by 30%, Spain imports 0,35 million tons, growing by 30%. 70.2%.Vietnam's steel production prospects will increase by about 10% in 2024 and 8% in 2025 when demand for steel in domestic economic sectors recovers. It is expected that in 2024, steel consumption will increase by about 6.4% and export output will increase to nearly 13 million tons. With continuous development and increasing production output, Vietnam is on the journey to becoming one of the biggest exporters of steel.Top 5 largest steel export markets in Vietnam 2023MRS Steel - Quality steel supply solutions in VietnamAs one of the countries with a developed steel industry, Vietnam's steel export output has been increasing in recent years. MRS Steel is one of the steel exporters that receives the trust of customers from many countries around the world. We are proud to bring you steel products with outstanding quality and reasonable prices.Currently, we are supplying steel products to all markets around the world, including Southeast Asia, Mexico, Australia, America, Spain,... If you are interested in importing steel from Vietnam, please contact us or fill out our form.In the above article, MRS Steel has given you information about the steel-exporting countries in the world and what country exports the most steel. Hopefully, the above article has been helpful to you. To read more articles about steel, remember to follow MRS Steel to get the latest information.

As one of the first steel conglomerates in the United States, US Steel has played a crucial role in the development of the country's steel industry. However, currently, US Steel has been acquired by Japan's Nippon Steel for $14 billion USD.US Steel was founded in 1901 by some of America's most prominent tycoons, including Andrew Carnegie, J.P. Morgan, and Charles Schwab. The company played a vital role in the recovery of the American industry after the Great Depression and World War II. In 2022, US Steel ranked as the 24th largest steel producer globally and the second-largest in the United States, following Nucor Corporation.In recent times, the stocks of US Steel, based in Pittsburgh, have been performing poorly after several quarters of declining revenue and profits, making the company an attractive acquisition target for competitors. On December 18, 2023, Nippon Steel announced an agreement with US Steel to acquire the company for $14.1 billion USD. This deal positions Nippon Steel to expand global crude steel capacity toward the goal of 100 million tons. This strategic move comes after Nippon Steel outbid competing rivals, including Cleveland-Cliffs Inc., in an auction.According to the World Steel Association, in 2022, Nippon Steel's production of high-quality crude steel reached 44.37 million tons, ranking fourth globally. Therefore, the acquisition of US Steel will elevate Nippon Steel to the third position in global steel production. This represents a significant step for Nippon Steel in its efforts to strengthen its position in the steel industry and enhance production capabilities on a global scale.Accordingly, after announcing the acquisition of the US Steel Group, Nippon Steel's stocks experienced a nearly 5% decrease. The stock decline occurred as shares of the steel manufacturer based in Tokyo opened with an excess of sellers, leading to a trading price of around 3,085 yen, marking a 4.7% decrease compared to the previous day's closing value.The acquisition takes place at a time when the steel industry is facing several challenges, including fluctuating demand and the need for technological advancements to reduce carbon emissions. Nippon Steel's move to acquire US Steel is expected to create a synergistic strength that could lead to more efficient production and help ensure a more stable supply of raw materials for Nippon Steel.US Steel has announced that the transaction with Nippon is expected to conclude in either the second or third quarter of 2024, depending on regulatory approval. However, the Committee on Foreign Investment in the United States, an agency that carefully examines transactions to identify potential national security risks, is expected to reassess this deal. If the agreement is not approved in this case, Nippon will owe US Steel USD 565 million.Here is the latest information on Nippon Steel's acquisition of the US Steel plant in the United States. However, there is still no official result in this matter. Stay tuned to MRS Steel, as we will provide the most up-to-date and accurate information on this transaction for our readers.

Malaysia has imposed definitive anti-dumping duties on Japanese cold-rolled steel coils after the Ministry of Investment, Trade and Industry (MITI) concluded its investigation earlier this year. At the same time, Malaysia also announced the end of trade defense measures on cold rolled steel imported from Vietnam.1. Malaysia: Anti-dumping investigation on Japanese cold rolled steelAccording to MITI's report, Malaysia's steel plate demand in 2022 reached 3.5 million tons, down 5.4% compared to the previous year. In the same year, import and export of steel plates both decreased by about 6-7% compared to 2021. Meanwhile, Malaysian cold-rolled steel prices remained highly competitive due to the massive import of cheap steel from abroad.This posed a significant threat to the development and business operations of domestic factories. Therefore, the Malaysian government is forced to take trade defense measures to protect the domestic market to a certain extent.On January 31, 2023, the authorities conducted an AD investigation on cold-rolled coils of iron or non-alloy steel with a width above 1300mm from Japan. The affected products are classified under the following HS code groups: 7209.15.00 00, 7209.16.10 00, 7209.16.90 00, 7209.17.10 00, 7209.17.90 00, 7209.18.99 00, 7209.25.00 00, 720 9.26. 10 00, 7209.26.90 00, 7209.27.10 00, 7209.27.90 00, 7209.28.90 00, 7209.90.90 00, 7211.23.20 00, 7211.23.90 00, 7211.29.2 0 00, 7211.29.90 00, 7211.90. 11 00, 7211.90.12 00, 7225.50.90 00, 7225.99.90 00, 7226.92.10 00 and 7226.92.90 00.2. Malaysia: Applying anti-dumping duty on Japanese cold rolling millsOn September 29, 2023, Malaysia imposed anti-dumping duties on Japanese cold-rolled coils of iron or non-alloy steel with thickness of 0.2-2.6mm and width of 700-1300m after completing the investigation. Accordingly, the Malaysian government has imposed a duty rate of 9.03% on Nippon Steel Corporation and 22.62% on other manufacturers, effective until September 28, 2028. However, due to the benefits of black plate and cold-rolled steel coils for the automobile, electronics industries are so great, Malaysia has excluded AD for these products.3. Malaysia: Ending anti-dumping measures on Vietnam's cold-rolled steelAccording to the Trade Defense Department, on March 21, 2019, MITI initiated an investigation of cold-rolled coils of iron or non-alloy steel with a width above 1300mm imported from Japan, Korea, China and Vietnam.By December 17, 2019, the government had applied definitive anti-dumping duty rates as follows: China 4.76% - 26.38% of the CIF value, Japan 26.39% of the CIF value, Korea 7.7% or 20.13% of the CIF value. This rate is effective for 5 years, from December 25, 2019 to December 24, 2024.In addition, other products from Vietnam and Korea are also under investigation including alloy/non-alloy cold rolled steel coils with thicknesses 0.2 - 2.6mm and widths 700 - 1300mm. The case has undergone many sunset reviews and received a decision to continue imposing anti-dumping duty, effective until October 8, 2026 at a rate of 0 - 21.64% for Korea and 7.42 - 33.7% for Vietnam. However, under the petition efforts of the Vietnamese government, MITI founded that Vietnam did not violate export conditions, the dumping margin was less than 2% of the export price. Therefore, Malaysia ended anti-dumping measures on the above products. In conclusion, Malaysian importers continue to enjoy preferential duty rates and cheap, quality steel sources from Vietnam.Vietnam is proud to be one of Malaysia's largest steel exporters with 653.7 million USD of iron and steel of all kinds and 48.1 million USD of steel products in 2022. Additionally, Vietnam and Malaysia are both members of the Association of Southeast Asian Nations (ASEAN) and ASEAN Free Trade Area (AFTA). There are many favorable opportunities for increased trade and two-way economic cooperation. If customers have any questions about the latest policies and procedures for importing Vietnamese steel, please contact MRS Steel via Email vanloc@mrssteel.com.vn for the most thoughtful support.