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Vietnam's steel market is increasingly asserting its foothold in the market as businesses begin to export Vietnamese steel products to the international market. Read the article below to better understand one of the reputable steel exporters in Vietnam.1. Steel market overviewAfter days of stagnation by COVID-19, the steel industry is experiencing strong recovery and transformation steps. According to the forecast of the Global Steel Association, steel demand in 2024 will be 135.8 million tons. Manufacturing is expected to lead the recovery, but high interest rates will continue to weigh heavily on steel demand. In 2024, steel products are expected to accelerate in most regions but decline in China.In Vietnam, steel consumption in the first 11 months of 2023 reached 23.7 million tons, declining by 5.6% over the same period last year. Accordingly, domestic demand for steel continued to decline sharply due to the stagnant real estate market and tight monetary policy. Meanwhile, the export market is still not favorable due to the recession in many economies around the world.2. Benefits of importing steel from VietnamAs one of the countries with a developing steel industry, Vietnamese steel is increasingly gaining a foothold in the market. By importing Vietnamese steel products, importers will get the following benefits:Product qualityProduct quality is always a key factor that steel manufacturers in Vietnam are interested in. The production of high-quality steel products not only helps consumers feel secure about the product but also helps businesses affirm their reputation and position on the world steel map.Competitive priceAlong with product quality, price is always what steel manufacturers aim for. With the signing of more than 15 FTA, importers will reduce costs when importing steel products originating from Vietnam.Abundant supplyIt is a developing market with many large steel producers. Choosing to import steel products from the Vietnamese market helps importers have more choices and diversify their products.3. MRS STEEL - Trusted partner to import steel from VietnamMRS Steel is based in Vietnam, specializing in the export of high-quality steel products to various destinations across the globe like EU, USA, Canada, Mexico, Australia, Middle East, Southeast Asia... With over 12 years of experience in the steel industry, MRS Steel have built a reputation for providing reliable, efficient, and cost-effective steel solutions to customers.At MRS Steel, we understand the importance of quality, reliability, and timely delivery to our customers around the world. That is why we work closely with our customers to ensure that their needs are met with the highest level of professionalism and excellence. We pride ourselves on offering a wide range of steel products that meet the needs of various industries, including construction, automotive, energy, manufacturing, and more.We have exported more than 358,000 tons of steel of all kinds to more than 235 customers from all over the world. With professionalism and dedication, all steel products from MRS Steel are trusted and selected by customers.. Working with the goal of putting customers at the center, we are always ready to support, answer questions, and meet the needs of customers 24/7. Customer satisfaction is the pride and development motivation of the MRS Steel team.4. The main exported products of MRS SteelCurrently, MRS Steel focuses on exporting mainly flat steel products:PPGI/PPGL GI/GLHRPOHRCCRC...We leverage our extensive network of suppliers and partners to source the best quality steel products at competitive prices. We also ensure that our products meet the required international standards, ensuring the highest levels of safety and durability.At MRS Steel, we believe that our success is rooted in our commitment to building long-term relationships with our customers. We are dedicated to providing excellent customer service and support, and we strive to exceed our customers' expectations at every turn. If you need to buy steel products, please contact us HERE.

How to import quality steel, avoid fraud, commit to delivering the right quantity, on time, and have good after-sales customer service? The common answer to all of these questions is: "Looking for a reputable, quality steel import support unit". Let's explore the qualities that a steel partner should possess with MRS Steel.1. Commitment to quality and continuous improvementWhile price is a crucial factor in purchasing decisions, importers cannot overlook the quality of the products. Quality greatly affects project performance, safety and various complex issues.When selecting a supplier, it's essential to understand who your partner is, their market position and they must have clear and stringent commitments to quality, origin of the goods. Products should meet international standards such as ISO 9001, ASTM, JIS,... and adhere to international quality management systems. Additionally, steel suppliers should continuously invest in and improve their production processes based on feedback from customers.2. Rich experience in steelExperience is a fundamental requirement in any industry, from manufacturing to business. Choosing partners with extensive experience in the field of iron and steel and a certain level of reputation in the market not only helps you feel secure in cooperation but also offers mutually beneficial business solutions.3. Proactive and flexibleIn terms of production process, the factory must be flexible and ready to meet customers' individual requirements. In addition, importers also appreciate the initiative of businesses in always having a certain amount of steel product inventory in case of special cases.4. Adherence to Contract TermsImporting steel often involves a time-consuming and complex process, including customs procedures and multiple stages of shipping. Therefore, it's crucial for steel suppliers to fulfill their contractual obligations to avoid disruptions to customers.5. Excellent after-sales servicesAfter delivering steel orders, the seller's responsibility doesn't end. They must continue to address issues that may arise, such as lack of goods, damage, warranty and return,... Not all companies are equally responsible and capable of handling these risks, so importers need to thoroughly assess a partner's credibility and customer care attitude before deciding to collaborate.6. MRS Steel - Vietnamese steel import solution providerMRS Steel has more than 12 years of experience in the field of sourcing and importing Vietnamese steel to many countries and territories around the world. The company has expanded its operations and has a team of top experts in market analysis, procurement, supply chain, communication,… This allows importers to connect with the largest steel brands in Vietnam at the most optimal cost.With its existing capacity and potential, MRS Steel is the top choice of many importers from the United States, Europe, England, Australia, Mexico, India, Southeast Asian,... when they need high-quality Vietnamese steel. MRS Steel always maintains its strategic vision of becoming the leading supplier and importer of Vietnamese steel in the region, so customers can rest assured to experience the best services from us.If you need to understand the market and import Vietnamese steel, please contact MRS Steel via Email vanloc@mrssteel.com.vn for 24/7 support.

On June 28, 2023, the UK continued to maintain anti-dumping measures on heavy plate steel imported from China. This decision was made after the government considered recommendations from the Trade Remedies Authority (TRA) that the domestic steel industry would suffer significant damage if previous trade remedies measures were lifted.1. EU: Imposing definitive anti-dumping duty on non-alloy steel plate or other alloy steel imported from ChinaOn February 13, 2016, the European Commission initiated an anti-dumping investigation on steel products imported from China, specifically goods of flat products of non-alloy or other steel (excluding stainless steel, silicon-electrical steel, tool steel and high-speed steel), hot-rolled, not clad, plated or coated, not in coils.Products with thickness and width specified under Notice No. 2016/C 58/09, classified under the following HS codes: ex. 7208.51.20, 7208.51.91, 7208.51.98, 7208.52.91, 7208.90.20, 7208.90.80, 7225.40.40, 7225.40.60 and 7225.99.00.On August 11, 2016, the European Commission required that goods from China be registered with Customs for a period of nine months. As of August 11, 2016, the EC has imposed a provisional anti-dumping duty at a rate of duty is between 65.1% and 73.7% of the net-free-at-Union-frontier price depending on the company. The trade remedy measure on the above products imported from China is subject to Commission Implementation Regulation No. 2016/1888, was in force for a period of 6 months.Following the conclusions of the damage caused by China's cheap supply of heavy plate steel, the European Commission imposed definitive anti-dumping duties on the goods under investigation group. The amount of duty is between 65.1% and 73.7% of the net-free-at-Union-frontier price before duty depending on the company, in effective until February 28, 2022.However, in the face of recommendations from stakeholders and market fluctuations, on September 3, 2019, the EC issued Commission Implementation Regulation 2019/1382 regulating the definitive anti-dumping duties on imports of non-alloyed or alloyed steel plates from China if the safeguard duty is also levied on the same good. Accordingly, the definitive anti-dumping duty is adjusted in the range of 40.1 - 48.7% in case when the product is also subject to a 25% safeguard duty out of quota.According to the EU Withdrawal Agreement, from January 1, 2021, the UK is no longer a member of the EU and the application of safeguard measures on steel products is carried out independently between the EU and the UK. After this event, both the UK and the EU conducted a review and updated the trade protectionsm being applied. Therefore, on February 25, 2022, the European Commission announced the intitation of a sunset review of the definitive duty imposed on steel products from China.2. UK: extends anti-dumping duty on heavy plate steel imported from ChinaHeavy plate steel is one of the main materials for the production of construction equipment, oil and gas pipelines, shipbuilding, bridges and buildings. The construction and machinery manufacturing sectors account for over 70% of the UK's heavy plate steel consumption. Today, Spartan UK Ltd and Liberty Steel Dalzell Ltd are the UK's two largest producers of heavy plate steel, contributing £10-20 million to the UK economy each year.Therefore, when realizing that the source of cheap steel imported from China has seriously threatened business activities and profits, manufacturers have filed a complaint with the Trade Remedies Authority (TRA). The TRA investigation found that failure to impose strict safeguards on imported goods would have caused damage to British industry, with the risk of shutting down steel mills in North Lincolnshire and North Lanarkshire.On June 28, 2023, the UK government made the conclusion that the anti-dumping measures for heavy plate steel imported from China would remain in effect for 5 years.3. Prospects of Vietnam's steel imports to the UK 2023For Vietnam, the UK is currently the 13th largest important trading partner among countries and territories in the world, ranking 5th among European and American countries and territories. According to data of Vietnam Customs, in the first 11 months of 2021, Vietnam's total export turnover to the UK reached $5.24 billion, leading the growth rate was iron and steel products with an increase of 1269%, followed by products from iron and steel increased by 91.1%.The outstanding growth of iron and steel products by the recovery of industries in Europe after the pandemic. On the other hand, Vietnam's steel production output has improved in both quality and quantity. In 2021, Vietnam's crude steel output reached 23 million tons, finished steel products reached 33 million tons, the amount of steel exported to the UK increased by 708%, reaching 418,903 tons with an average price of 1172.7 USD/ton, increased by 69.5% over the same period last year.On March 13, 2023, Vietnam had the opportunity to welcome the UK Prime Minister's Trade Envoy to discuss bilateral investment and trade between Vietnam and the UK 2023. At the meeting, the two sides agreed on solutions to promote bilateral economic and trade cooperation, effectively implementing the UKVFTA and CPTPP Agreements. Through this event, the British government also continued to increase support and create favorable conditions to promote import and export activities between Vietnam and the UK. Therefore, most of Vietnam's steel products exported to the UK have grown well thanks to duty incentives.The UK government's move to extend anti-dumping duties on heavy plate steel imported from China may cause a supply chain shortage for domestic production. Finding alternative steel exporters is a solution that businesses can consider. Any demand for quotation and import of cheap and quality steel from Vietnam, please contact MRS Steel via Whatsapp: +84 76 911 2358 for the best support.

On March 1, 2023, the UK’s Trade Remedies Authority announced the extension of anti-dumping measures on High Fatigue Performance Steel Concrete Reinforcement Bars (HFP) imported from China. This makes domestic businesses concerned about the disruption of the supply of good-priced steel.1. The UK: Applying anti-dumping duty on rebar imported from ChinaHFP rebar, also known when massed as reinforcing steel or reinforcement steel, is a major material in the construction industry with a high bearing capacity to reinforce steel structures. The use of HFP Rebar in construction has brought a value of more than £108 billion to the UK economy.During the period from April 1, 2020, to March 31, 2021, the UK imported 3,600 tons of rebar from China. In the long run, the government was worried about dumping that could cause the domestic steel industry to suffer significantly because of cheap supply.Therefore, the European Commission imposed anti-dumping duties on HFP bar steel under the HS code 72 14 20 00 10, 72 28 30 20 10, 72 28 30 41 10, 72 28 30 49 10, 72 28 30 61 10, 72 28 30 69 10, 72 28 30 70 10 and 72 28 30 89 10 imported from China. Those trade remedy measures were in effect from July 2016 to the end of July 29, 2021, without needing to be reviewed.2. The UK: Proposal to extend trade remedies with rebar imported from ChinaThe UK's Trade Remedies Authority (TRA) proposed to continue to extend the anti-dumping duty at 18.4-22.5% for HFP rebar imported from China. Faced with the tense war situation of Russia-Ukraine, the British government is also concerned about negative impacts on the steel industry and causing a shortage of rebar. Therefore, continuing to extend trade remedies with this product might affect the general economic interests of the country.However, after reviewing the feedback from stakeholders and new economic forecasts, TRA found that steel imports from Russia, Ukraine, and Belarus could be substituted from other countries such as Portugal, Spain, and Turkey. Therefore, the extension of anti-dumping duty did not disrupt the domestic steel supply. The relevant parties had requested until the end of October 14, 2022, before the Ministry of International Trade made a final decision.3. The UK: Continue to extend anti-dumping measures with rebar imported from ChinaOn March 1, 2023, the United Kingdom officially extended anti-dumping measures on construction rebar (HFP) imported from China. This decision was made after the Trade Remedies Authority (TRA) conducted a review of the petitions to cancel the trade remedy measures applied since 2016.According to Minister for Business and Trade - Nigel Huddleston, protecting domestic steel producers from unfair competition is a top priority for the government. Thus, the anti-dumping duty on Chinese rebar will be in effect until the end of July 2026.4. The UK: Vietnam's important steel export marketAccording to WTO statistics, by the end of June 2022, the UK has investigated a total of 04 trade remedies and applied 1 measure (transitional safeguard mechanism with steel products).According to the EU – UK Withdrawal Agreement, from January 1, 2021, the UK is no longer a member of the EU, and safeguard measures on steel products are carried out independently between the EU and the UK. After this event, both the UK and the EU conducted a review and updated the trade protectionism being applied.For Vietnam, the UK is currently only applying safeguard measures for steel products. In March 2022, The Trade Remedies Authority initiated an investigation and review of safeguard measures with steel products. In June 2022, they issued a final report, according to which Vietnam applied a separate tariff rate quota on a quarterly basis and a residual tariff quota for some steel products from July 1, 2022, to June 30, 2024.Thanks to the UKVFTA Free Trade Agreements, Vietnamese businesses have an edge over many other countries. According to data from Vietnam Customs, two-way trade turnover between Vietnam and the UK will reach nearly 6.84 billion USD in 2022, up 3.4% compared to 2021. Exports will reach 6.07 billion USD, up 5.2%, exports of iron and steel of all kinds to the UK reached 155.7 million USD, and products from iron and steel reached 63.3 million USD.Hopefully, the information about the UK's extension of anti-dumping duty on Chinese steel will help you update more about the world's steel market situation. Don't forget to follow and read the latest news about the steel industry in Vietnam and the world at MRS Steel!