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The Indian government will need to carefully consider the interests of all stakeholders before making a final decision on imposing anti-dumping duties on HRC steel imports from Vietnam.The recent anti-dumping investigation into Vietnamese HRC imports has been met with strong opposition from the Indian steel user community. They fear that the imposition of such duties could lead to higher steel prices, negatively impacting industries that depend on steel, such as automotive parts, agricultural tools,...Balancing trade protection and steel user interests in India's HRC probeAccording to Upkar Singh Ahuja, President of the Chamber of Industrial and Commercial Undertakings (CICU) in Punjab, "We do not want anti-dumping duties applied." He argues that imposing these duties would create a financial burden on SMEs, raising input costs and reducing their competitiveness. Some industrialists oppose the anti-dumping duties on Vietnamese HRC, concerned that large steel corporations in India might gain monopolistic control over the market by raising prices unreasonably.Akash Bassi, Vice President of CICU, also emphasized that anti-dumping measures could hinder free trade, create trade conflicts and disrupt supply chains. Other industry representatives, such as Honey Sethi and Rajnish Ahuja, also noted that the steel industry is currently profitable, the additional duties are unnecessary and could threaten the sustainability of SMEs.India's anti-dumping investigation into HRC imports from Vietnam is generating mixed opinions within the industry. While some large producers support the duties to protect their interests, many SMEs are concerned that this will increase production costs, reduce competitiveness and harm the local economy. The Indian government will need to carefully weigh the interests of all parties involved before making a final decision on imposing these anti-dumping duties.

On August 14, 2024, the Directorate General of Trade Remedies (DGTR) in India officially initiated an anti-dumping investigation into imported Vietnamese HRC steel.According to MRS Steel, this investigation was launched at the request of the Indian Steel Association, which represents two major steel producers: JSW Steel Limited and ArcelorMittal Nippon Steel India Limited.India launches anti-dumping investigation into Vietnamese HRC steel importsWhich Vietnamese HRC products are under investigation?The investigation targets HRC products, both alloyed and non-alloyed, not clad, not plated or coated, with a thickness of up to 25mm and a width of up to 2100mm. These products fall under HS codes 7208, 7211, 7225 and 7226. The investigation will focus on the period from January 1, 2023, to March 31, 2024, with damage assessments covering the years from 2020 to 2023.Vietnamese steel alleged to be dumpedIndian steel producers allege that Vietnamese HRC is being imported into India at "dumping prices," causing significant harm to the domestic steel industry. They argue that there are no substantial differences in the physical and chemical properties, production process, technology, functionality or usage between their products and the imported steel from Vietnam.To counter the threat of cheap imports, they have proposed the implementation of anti-dumping duties on HRC imports from Vietnam to safeguard their domestic industry.Indian steelmakers push for anti-dumping duties on Vietnamese HRC importsImpact on the global steel marketThis investigation by India could have wide-reaching implications for the global steel market, particularly for Vietnam, which is among the top 5 steel exporters to India. According to BigMint research, during the fiscal year 2023-2024, India imported 3.55 million tons of HRC and plate steel, of which 620,000 tons (nearly 20%) were from Vietnam. This figure represents a threefold increase compared to the 22,000 tons imported in the fiscal year 2022-2023.Vietnam's steel exports to India triple, facing Indian market scrutinyResponse from VietnamTo respond to this investigation, the Vietnam Trade Remedies Authority has urged domestic businesses to actively cooperate with DGTR by providing comprehensive and accurate information. Additionally, businesses are advised to proactively request relevant information from DGTR to protect their interests in the investigation.As India initiates an anti-dumping investigation into Vietnamese HRC steel, the outcome could have a profound impact on trade relations and reshape the global steel market dynamics. Vietnamese steel producers must stay vigilant, actively participate in the investigation process, and defend their interests. Stay updated on the developments of this case to understand its full implication.

In 2023, Italy's steel production output recorded 21.06 million tons of steel, down 2.5% compared to 2022. The predicted cause is the fluctuating situation in the European steel industry such as high energy costs, low steel export demand and the intense conflict between Russia and Ukraine.1. Situation of Italian steel production in 2023In 2023, domestic steel production output decreased by 2.5% to 21.06 million tons. This decline occurred in the context of falling global steel demand and unpredictable increases in fuel and raw material costs.According to SteelOrbis data, long steel output reached 11.68 million tons, down 2.9% compared to 2022 and flat steel reached 9.54 million tons, down 0.1% y/y. In December 2023, domestic mills produced 1.33 million tons, increasing output by 6.5% y/y but decreasing by 29.5% compared to November 2023. Long steel production output reached 694 thousand tons, up 5% over the same period but down 36.9% over November. For flat steel, domestic producers reached 615 thousand tons, down 3.9% over the same period and 27.5% compared to the previous month.Returning to 2022, Italy's total steel production reached 21.06 million tons, down 11.5% over the same period in 2021. Regarding long steel, in 2022, Italy reached 12.03 million tons, down 12% y/y. Meanwhile, flat steel products also decreased by 13.8% over the same period, reaching 9.55 million tons.In 2022, not only Italy's steel output decreased, but the steel industry of EU countries also experienced a significant 10.5% decline over the same period, reaching 136.7 million tons. That was the result of rising energy prices, reduced export demand and the fluctuations of the Russia-Ukraine military conflict.2. Italy increases steel imports from Vietnam to solve domestic supply shortagesAccording to data from the Vietnam Steel Association (VSA), Italy ranked 1st among the countries that imported the largest Vietnamese steel in the first 10 months of 2023. Steel exports to the EU market accounted for 24.1% of the turnover proportion, reaching 2.2 million tons, a sharp increase of 86.2% over the same period in 2022. Of which, exports to the Italian market reached 1,355 million tons, an increase of 127.7%.Importing Vietnamese steel at good prices and high quality has helped Italy partly solve the difficulty of supply shortage due to a sharp decrease in domestic steel output. In the context of an unstable war situation and rising raw material prices, predicting Italy's steel demand is still a challenging question. Importers continue to seek supplies from major steel exporting countries such as China, India and Vietnam. However, they are still subject to many constraints on the government's trade defense measures to prevent dumping, which negatively affects domestic manufacturers.3. MRS Steel - reputable and quality Vietnamese steel import support unitMRS Steel is a leading unit in the field of providing Vietnamese steel import solutions, cooperating with many large and small businesses in more than 30 countries worldwide. With more than 10 years of experience as a bridge between importers and the largest steel brands in Vietnam such as Hoa Phat, Hoa Sen, Nam Kim, Tay Nam,... MRS Steel can meet all customer requirements in terms of product specifications, reasonable costs. In addition, MRS Steel's team of experts is always ready to advise customers about the market and Vietnamese steel products thoughtfully, in detail and 24/7 via Hotline: +84 28 36 22 33 58 or Email: vanloc@mrssteel.com.vn

According to data from the General Department of Customs, iron and steel exports of all kinds in December 2023 increased sharply, reaching more than 1.08 million tons with a value of 707 million USD, an increase of 18.12% in volume and 13.81% in value compared to November 2023; increase 34.4% in volume and 27.7% in value compared to the same period in 2022.According to the Vietnam Steel Association (VSA), in December, construction steel and high-quality steel of all types recorded the highest consumption in the past 20 months. Exports of iron and steel of all kinds in December 2023 also increased sharply, reaching more than 1.08 million tons with a value of 707 million USD. For the whole year 2023, iron and steel exports of all kinds reached nearly 11.13 million tons with a value of 8.35 billion USD, +32.6% in volume and +4.5% in value compared to 2022.In December 2023, the top 10 largest import markets for Vietnamese flat steel were the United States accounting for 14.95%, Italy at 12.4%, Cambodia at 8.7%, Mexico at 7.8%, Malaysia at 6.3%, Indonesia at 5.2%, Colakoglu at 5%, Belgium at 4.9%, India at 4.9% and Spain at 4.1%.Conversely, Vietnam's imports of iron and steel in December 2023 reached 1.17 million tons with a value of 741 million USD, -22.1% in volume and -18.3% in value compared to the previous month; +22.7% in volume and +6.7% in value over the same period in 2022. For the whole year 2023, imports of iron and steel of all kinds will reach 13.3 million tons with a value of 10.43 billion USD, +14.1% in volume but -12.6% in value compared to 2022. One of the businesses with the most positive business results in December 2023 was Hoa Phat Group. HPG produced 648,000 tons of crude steel, an increase of 4% compared to November 2023. The consumption of hot rolled steel coils, construction steel and steel billets reached 760,000 tons, an increase of 7% compared to November and the highest in 2023. For export markets, Hoa Phat exported 113,000 tons of construction steel and high-quality steel to make wire rods and welding rod cores. Main export markets were Canada, Korea, Japan, Singapore, Australia, Sri Lanka,...In addition to high-quality steel, Hoa Phat also exported 103,000 tons of HRC in December 2023. HPG is the group with the largest crude steel capacity in Vietnam and Southeast Asia with 8.5 million tons/year, leading in construction steel market share and among the top 5 largest Vietnamese galvanized steel manufacturers.Entering 2024, Vietnam's steel industry is also recording many positive signs of recovery as both production and consumption show signs of strong growth. For the export market, recovering demand in the EU and US has a positive impact on export output and price of galvanized steel. Export steel prices are expected to increase by 9% in 2024.MRS Steel is a provider of quality, convenient and time-saving Vietnamese steel import solutions. Our team of market analysis, marketing and supply experts provide the latest market and price reports to help importers clearly understand Vietnamese steel industry. If you have any questions or need to import Vietnamese steel, please contact MRS Steel via Email: vanloc@mrssteel.com.vn or Hotline: +842836223358 for the most thoughtful support!

The steel industry has gradually regained growth in recent times. Predictions suggest that the demand for steel exports is expected to recover in the coming quarters, given the high domestic selling prices in the EU, the US, and Asian countries.According to a recent steel industry outlook report, VCBS Securities Company stated that steel production activities have shown signs of recovery in the mid-2023 period, contributing to an increase in the overall supply. This comes as manufacturers return to profitability after adjustments in input costs such as ore and coal, supporting profit margins. Additionally, a more positive hydroelectric output is further bolstering the energy supply for steel production mills.The export volume of construction steel also demonstrates a strong recovery for the steel industry since August 2023, as China gradually reduces competition in the export of construction steel towards the end of the year. Specifically, in November, Vietnamese enterprises exported over 7.4 million tons of steel, a 29% increase compared to the same period last year. The main export markets include ASEAN, the EU, the US, India, and Taiwan, among others. As for galvanized products, although the export volume has not reached the levels of 2021, it has shown a significant recovery compared to the low point in August 2022. A substantial contribution to this recovery comes from the export of steel to the EU market, where the supply has been heavily affected by the earthquake in Turkey and ongoing energy shortages.Regarding the export market outlook, demand for the export market will remain positive in 2024. Specifically, according to the forecast by the World Steel Association (WSA), global steel consumption is expected to grow by 1.9% in 2024. The substantial recovery in many countries, such as Europe and the United States, is expected to have a positive impact on the production and prices of exported galvanized steel, with export steel prices expected to increase by 9% in 2024, improving the gross profit margins of steel exporting companies. Additionally, China, as the largest and least dynamically growing country in 2024, is projected to have steel consumption growth of only 0%. This presents an opportunity for the Vietnamese steel industry to boost exports to other potential countries.If the export market expands, the steel industry can benefit from increased exports of its products. However, alongside this, fluctuations in international trade policies can impact the steel industry. Trade protection measures or changes in tariffs may present new challenges or opportunities for steel businesses. Therefore, steel enterprises are compelled to seek and maintain new export markets to ensure diversity and stability in income sources. Generally, in 2024, the steel industry is expected to see signs of recovery from the export market. Particularly in major markets such as the EU, Mexico,.. This will be an opportunity for Vietnamese steel businesses to establish and develop the Vietnamese steel brand on the global steel map.