Recently, the Trade Remedies Authority (Ministry of Industry and Trade) and the European Commission issued a notice initiating an anti-dumping investigation into certain types of hot-rolled coil originating from Egypt, India, Japan, and Vietnam imported into the EU. This is part of the European Union's effort to protect its domestic industry from unfair competition from other countries.Hot-rolled coil (HRC) steel from Vietnam is facing anti-dumping measures by the EUThe decision to initiate the investigation was made based on the request received by the European Commission from the European Steel Association on June 24, 2024, concerning hot-rolled coil products. The products under investigation are classified under the following HS codes: 72081000, 72082500, 72082600, 72082700, 72083600, 72083700, 72083800, 72083900, 72084000, 72085210, 72085299, 72085310, 72085390, 72085400, 72111300, 72111400, 72111900, ex 72251910, 72253090, ex 72254060, 72254090, ex 72261910, 72269191, and 72269199.The anti-dumping investigation period covers from April 1, 2023, to March 31, 2024, while the damage investigation period spans from January 1, 2021, to March 31, 2024. The Trade Remedies Authority also noted that the European Commission’s initiation notice includes comprehensive information about the involved parties. The notice details the investigation procedures, relevant deadlines, the rights and obligations of the parties, and provides guidance on how to upload and submit documents through the EC's electronic system, TRON.HRC is one of the important products of the steel industryThis investigation reflects the EU's increasing concern for maintaining fairness in international trade and protecting its regional industry from potential harm caused by unfair competitive practices.In addition to facing anti-dumping duties in the EU, domestic hot-rolled coil products in Vietnam are also competing with low-priced steel imports from abroad. Previously, in July 2024, the Ministry of Industry and Trade issued a decision to initiate an anti-dumping investigation into hot-rolled coil imported from China and India, after observing that such practices were harming local businesses.Currently, the two companies in Vietnam exporting hot-rolled coil are Hoa Phat Group and Formosa Ha Tinh. These are the only two companies in Vietnam that produce and export HRC. According to data from Customs and the Steel Association’s report, in 2023, the combined sales volume of HRC from Hoa Phat and Formosa Ha Tinh reached 6,808,337 tons, with 3,405,633 tons exported, accounting for nearly 50% of Vietnam's total HRC sales. Notably, in the first half of 2024, the sales volume of these two companies reached 3,312,675 tons, with 1,181,649 tons exported, representing almost 40% of their total sales in the first half of 2024.Formosa and Hoa Phat are the two companies exporting hot-rolled coil steel from VietnamFacing the wave of trade protectionism, affected manufacturing and exporting companies, in collaboration with the Vietnam Steel Association (VSA), need to thoroughly review all relevant information and documents. They must fully cooperate with the European Commission (EC) to provide the required information and documentation in the prescribed format and within the deadlines. Regular coordination and information sharing are essential to receive timely support from the Trade Remedies Authority.In the article above, MRS Steel has provided you with information about the situation. Stay tuned to MRS Steel for the latest updates and insights on the global steel industry.
