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Trade remedies take place as an apparent trend in the integration process of the global economy. Therefore, it is not surprising that anti-dumping cases are escalating gradually and most recently, the EU imposed anti-dumping duties on Turkish steel products.Overall the evolution of the EU imposed anti-dumping duty on Turkish steelOn August 12, 2022, the European Commission announced the decision to impose anti-dumping duties on galvanized steel products from Turkey. According to information from the commission, an investigation into trade remedies evidence has been started from January 2020 until December 2020 after the request from the European Steel Association (EUROFER). The products under investigation include hot-dip galvanized steel and galvalume steel in both coil and flat forms.After many preliminary investigations, the European Union decided to impose anti-dumping duties ranging from 8% to 11% on galvanized steel products imported from Turkey. The tax rate will be applied depending on the different manufacturing plants for 5 years.Analyze some causes of the lawsuit from the EUExplaining the reason for the incident, the European said that the import price of galvanized steel from Turkey has decreased significantly and it has a significant difference when compared to the price of the steel manufacturers in the EU from 2018. By the end of 2020, the price of Turkish steel will have decreased by half compared to the price of steel from Europe. This evidence is enough for the European Union to conclude that Turkish steel products have been dumped at 2.4 - 39.8%.For a long time, the EU market has always been an important export market for Turkey. By 2021, Turkey's total export of galvanized steel has reached 1.6 million tons, equivalent to a value of 2 billion USD. Along with that, Europe's steel consumption volume reached a stable level from 2017 to 2019 but then decreased by 10% in 2020, the cause partly due to pressure from steel imported from Turkey.The EU's decision to apply an anti-dumping policy is seen as a negative effect on Turkish exporters, but it helps European factories reduce price pressure among a series of international exporters. As a result, EU producers can implement a strategy to stabilize prices as well as reduce rivalry from competitors.Some reactions from Turkey importers face to anti-dumping dutyBefore the results of the anti-dumping duties, the Turkish Steel Exporters Association had fierce controversies. Accordingly, the Turkey side declared that the price of galvanized steel was directly affected by the previous price fluctuation of HRC. However, the EU side rejected this claim.In addition, the European Union also rejected some opinions that the cause of their steel output decline was mainly due to weak demand. Some experts believe that European manufacturers have invested in inappropriate strategies during and after the Covid pandemic has caused operating capacity to exceed consumption, leading to substantial losses which adversely affect profits.“Our export situation will be aggravated by these decisions, there is a high rate of possibility that we will lose in the competitive position compared to India, Korea, and Vietnam,” said the Export Association. Turkish Steel (CIB) commented. Vietnam's perspective on Turkey's anti-dumping dutyWhen faced with the anti-dumping tax case from Turkey, Vietnam expressed severe concern about the anti-dumping issue as a steel exporter. Vietnam and Turkey both have similarities in the export market while the EU market has always been one of the four largest markets for Vietnam's galvanized steel industry.Currently, Vietnam is considered one of the countries with rapid growth in export turnover when many of Vietnam's export products, including galvanized steel, certainly create competitive pressure on domestic markets. This development causes many countries to pay attention including the European Union. Therefore, the galvanized steel industry is predicted to be no exception to this inevitable trend with a high probability of imposed trade remedies tax policies in the future.Although Vietnam's galvanized steel has not yet been subject to trade remedy lawsuits when exporting to the European market, it will be limited in quantity instead. Specifically, on 1st July 2022, Vietnam's galvanized steel exports will be managed under a quota of 1.8 million tons. If the export volume in the year exceeds the quota, the import tax will have to pay an additional 25%.In the worries about anticipating trade remedies from Europe in the future, the European market has always been a potential export land for Vietnamese steel manufacturers. Because it has only 3 of a total of 23 products subject to quotas including cold rolled steel, galvanized steel, and stainless steel. The remaining 20 types of steel products temporarily do not apply to quotas and are not subject to additional tax rates. 

Russian galvanized steel has created tremendous competitive pressure in the European market. This forces the EU to apply trade remedies to ensure the development of the European Union bloc.Russia is hit with anti-dumping duties by the EURussia is the world's 3rd largest steel exporter, with annual steel exports reaching 28 million tons. In the Europe market, Russia is currently the second-largest supplier of steel to Europe after Turkey. The excessive export of galvanized steel to Europe is said to be the act of destroying competitors and expanding the market, which is an act of unfair competition and should be prevented. There have been lawsuits alleging that galvanized steel products are dumped from Russia on the European market, affecting the region's steel market economy.The European Steel Industry Association (Eurofer) initiated the investigation after receiving a report from Commodity Insights. According to the lawsuit, Europe's average galvanized steel production remained stable from 2017 to 2019, but prices remained higher than those imported from Russia. However, in the period from 2019 to 2020, EU steel production decreased by 10%, mainly due to the impact of cheap Russian steel flooding the European market. This makes the EU steel market volatile, and domestic steel enterprises suffer a decline in output and revenue.From January to December 2020, the EC opened an investigation into the imports of galvanized steel products from Russia into EU countries to determine whether these products are being dumped and whether such imports cause harm or damage to EU domestic steel producers. The products investigated fall under HS codes 7210410020, 7210410030, 7210490020, 7210490030, 7210610020, 7210610030, 7210690020, 7210690030, 7210908092, 7212300020, 7212300030, 7212506120, 7212506130, 7212506920, 7212506930, 7212509014, 7212509092, 7225920020, 7225920030, 7225990022, 7225990023, 7225990041, 7225990092, 7225990093, 7226993010, 7226993030, 7226997013, 7226997093 và 7226997094.The EC determined that Russian galvanized steel products had a dumping margin of between 2.4% and 39.8%. The fact that galvanized steel products are imported from Russia and dumped in the EU market makes domestic manufacturers unable to sell their products, putting pressure on the national economy.Accordingly, on August 12, 2022, the EU imposed an anti-dumping order on galvanized steel products from Russia after concluding this investigation. The EU imposed anti-dumping orders on galvanized steel products originating from Russia after the conclusion of this investigation. Russian steel mills will be subject to specific duties, as follows: Anti-dumping duties on steel from Magnitogorsk Metallurgical Plant amounted to 36.6%, Novolipetsk Metallurgical Plant to 10.3%, Severstal to 31.3%, and other Russian enterprises to 37.4%.Vietnam - An alternative to RussiaMost EU countries import steel from Russia, EU anti-dumping duties on Russian galvanized steel disrupted the EU steel market, affecting supply in other industries. The EU and Vietnam share the same EVFTA trade agreement, which is an opportunity for EU countries when importing steel from Vietnam. The joint trade agreement helps EU countries avoid being subject to import duties when importing galvanized steel originating from Vietnam. This helps countries in the EU import quality steel at a more reasonable cost than importing steel from other countries.As one of the significant steel exporters in the world today, the prolonged conflict between Russia and Ukraine directly affects global raw material resources, including the steel industry. The shortage of steel supply from Russia will cause steel prices in Europe to rise, especially as many steelmakers in Europe have had to reduce capacity because of soaring energy costs. This is also a condition for Vietnamese steel enterprises such as Hoa Sen Group, Hoa Phat Group, Nam Kim Steel... boost the export of galvanized steel to this potential market, replacing the gap left by Russia. 

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! 

The Department of Foreign Trade of Thailand (DFT) has just issued the final conclusion in the final review of the anti-dumping duties order on steel products originating from Vietnam. Accordingly, DFT has stopped the order to impose anti-dumping duties on GL and extended the duty imposition on PPGI and PPGL.The Trade Remedies Department said it had received information that DFT has initiated an investigation and review at the end of the anti-dumping duties period with two product lines, GL and PPGI/PPGL of Vietnam. After these two product lines were investigated and anti-dumping orders were imposed five years ago.In the case of GL, the list of Vietnamese manufacturers and exporters named includes: Hoa Sen Group Joint Stock Company, Nam Kim Steel Joint Stock Company, Member of Hoa Phat Group Joint Stock Company, Dong A Steel Joint Stock Company, Dai Thien Loc Joint Stock Company, Vnsteel Thang Long Coated Sheets Joint Stock Company, Maruichi Sun Steel Joint Stock Company, NS BlueScope Vietnam Co., Ltd., and Southern Steel One Member Co., Ltd.In the case of PPGI and PPGL, the list of Vietnamese manufacturers and exporters subject to anti-dumping investigations includes Hoa Sen Group Joint Stock Company, Nam Kim Steel Joint Stock Company, Hoa Phat Steel Sheet One Member Limited Liability Company, Dong A Steel Joint Stock Company, Dai Thien Loc Joint Stock Company, Thang Long Vnsteel Coated Steel Joint Stock Company, Maruichi Sun Steel Joint Stock Company, NS Company Limited BlueScope Vietnam, Southern Steel One Member Limited Liability Company, and Fujiton Color Coated Steel Joint Stock Company.Specifically, the Trade Remedies Department (Ministry of Industry and Trade) said that this case, announced by DFT, will initiate an investigation and review at the end of the period on March 31, 2022. The purpose is to consider whether to continue or not to continue to impose anti-dumping orders on two product lines: GL and PPGI/PPGL of Vietnam. DFT sent the questionnaire and requested that relevant Vietnamese manufacturers and exporters submit their responses before 16:30 on May 2, 2022 (Bangkok time).In order to ensure its interests, the Trade Remedies Department recommends that relevant organizations coordinate and provide information at the request of the DFT. At the same time, keep in touch with the Trade Remedies Department for timely support.It is known that in the past, on September 18, 2015, DFT also initiated an anti-dumping investigation of Vietnam's GL and PPGI/PPGL. On March 25, 2017, DFT issued a final decision to apply anti-dumping duties from 4.3% to 60.26% for GL and from 6.2% to 40.49% for PPGI and PPGL imported from Vietnam. The duty rate will be effective for 5 years from the date of issuance.After the investigation process, on June 7, 2023, the Trade Remedies Department received the final conclusion in this case. Specifically, GL, after the investigation process, DFT decided to terminate the order to impose anti-dumping duties on this product (including 39 HS codes listed under the HS code list of Thai Customs). For PPGI and PPGL, DFT decided to extend the anti-dumping duties from 4.3% to 60.26% (including 39 HS codes listed under the HS code list of Thai Customs). This duty rate will continue to be applied for the next 5 years to prevent the dumping of the above steel products in the domestic market of Thailand, causing serious injury or damage to the domestic industry of this country.    

The sharp drop in input material prices and abundant supply is why manufacturers lower the costs of construction steel products to stimulate demand. This is also the lowest price drop in the past two months in the Vietnamese steel market.From the beginning of the year until now, the price of construction steel in the Vietnamese market has continuously decreased sharply. Specifically, the price has dropped by 200,000 VND/ton (equivalent to 8.50 USD/ton), the 10th decline in a row. Construction steel costs around 14.5 million VND/ton to 15.5 million VND/ton (depending on product and brand). This price level is equivalent to the steel price in October 2022 - when the steel demand begins to decline sharply.Companies such as Hoa Phat, Viet Y, Viet Duc, and Viet Nhat have reduced the prices of their products since the beginning of April, with a cumulative reduction of up to 1.5 million VND/ton.The Vietnam Steel Association believes the recent decline in domestic construction steel prices is due to weak demand and lower input material costs. However, the price reduction has also boosted demand for the production and consumption of steel products in the last 2 months. Specifically, in May, there were 812,000 tons of construction steel produced, up 14% from April. Steel consumption also reached 927,000 tons, up by more than 26%; this is the highest growth rate since the beginning of this year. This is the second month in a row that steel consumption exceeds production. The difference between consumption and steel production is more than five times higher than last month, reaching more than 115,000 tons. This shows that market demand is gradually recovering.In the first 5 months of 2023, Vietnam's steel industry was continuously under pressure from falling domestic market demand and export pressure from steel-exporting countries to Vietnam. With the price reduction rate to compete, it is forecasted that steel prices will continue to decrease in the coming time.In the Vietnamese market, Hoa Phat Group is the leading wing of the steel industry, accounting for 34% of the construction steel market share. Mr. Tran Dinh Long - Chairman of the Board of Hoa Phat Group, said that the most challenging period of the steel industry has passed. Specifically, Hoa Phat sold more than 530,000 tons of all kinds to the market in May alone, up 16% from April. In which construction steel sold 284,000 tons, up 33%.With the recent sharp drop in steel prices, Vietnamese enterprises have promoted exports to reduce excess products. As a golden time in terms of prices, the cost will be optimized if importers proceed to import steel from Vietnam. Famous for quality steel manufacturers such as Hoa Phat, Nam Kim, Hoa Sen, Dong A... These will be the suppliers of construction steel products with international quality and reasonable prices. Above is information about construction steel prices in the Vietnam market; the price list will continue to be updated. If you want a specific quote, please get in touch with us. 

According to a preliminary report, India's steel imports from Vietnam have increased more than 4 times in the fiscal year 2022/2023, mainly hot rolled coil and galvanized steel. India also switched from a net exporter to a net importer of steel in the fiscal year 2022/2023 (March 2022 – March 2023). India's steel demand is forecast to reach 11.3% in FY 2023 and keep on taking off in FY 2024. Vietnam is taking advantage of this great opportunity to boost steel exports to India.1. India: Steel imports from Vietnam increased 4 timesIndia imported 5.59 million tons of finished steel products from April 2021 to February 2022, up 29.5% over the same period fiscal year 2021/2022. In which, hot rolled coil/strip was imported the most, accounting for 35% of total steel imports with 1.96 million tons. According to preliminary data of JPC, Vietnam is in the top 5 largest steel exporters to the Indian market, reaching 0.286 million tons, up more than 4 times over the same period in the financial year 2021/2022. The main product imported is hot rolled steel coil/strip (0.177 million tons). Moreover, the majority of India's imported galvanized sheet/corrugated iron also comes from Vietnam.The reason for the significant increase in steel imports by India from Korea, Japan, Russia and Vietnam lately is due to the price of imported steel being much lower than that of domestic steel. Accordingly, the price of imported HRC steel for delivery at Mumbai port in February 2023 was at $596/ton. While the price of HRC steel of domestic manufacturers is 730 USD/ton.2. India: 2024 steel demand forecasted to increase by 7-8%In fiscal year 2022, India's steel demand increased by 11.5%. According to the well-known ICRA financial consulting firm, the country's demand for steel will continue to rise to 11.3% in the fiscal year 2023. This is a sign that the Indian government is accelerating the development of infrastructure facilities for economic growth. IARC also said that the Indian government is willing to increase investment spending by 37% compared to 2023. The country's steel demand in the financial year 2024 is expected to reach about 7-8% (instead of 6 - 7% compared to previous forecast).The global steel price is likely to recover and remain more stable starting this year, according to the financial director of Tata Steel - the world's top 10 largest steel companies in 2022. It is forecasted that steel consumption in the Indian domestic market will increase again in the context of China reopening its economy, the European market gradually becoming more stable after more than a year of conflict between Russia and Ukraine and the America domestic market gradually improving.India becomes a potential steel consumption market for Vietnamese steel and steel businesses as demand for steel continues to rise strongly. According to the latest data of the Vietnam Steel Association (VSA), India is currently the 3rd largest steel importer of Vietnam (accounting for 15% of total exports),  just behind ASEAN 33% and the EU 19%)3. India benefits from importing Vietnamese steelAccording to a report by The Hindi Businessline, Vietnam's steel shipments to India in the hot rolled coil/strip categories increased by 300% to 0.29 million tons. Vietnam is gradually taking over for Taiwan and Indonesia as India's steel product supplier. About the domestic steel market, the Vietnam Steel Association (VSA) announced that in February 2023, the situation of steel production and consumption has prospered and grown. In particular, finished steel production reached 2.35 million tons, up 21.91% compared to January 2023. It is fully capable of meeting the requirements for scale, quality, and standards for steel shipments to India with the current production capacity of large Vietnamese steel enterprises like Hoa Phat Group, Ton Hoa Sen, Ton Nam Kim, Ton Dong A,...However, the process and procedures for exporting goods to India have never been straightforward when this country uses anti-dumping measures most often. India was responsible for 16.95 percent of the nearly 6,500 anti-dumping investigations that were launched worldwide, with 1,100 lawsuits. Currently, India applies 767 anti-dumping measures against goods imported from China, Korea, Taiwan, EU, Thailand, Indonesia, Japan, Malaysia, USA,...Vietnam is not in the top 10 countries most affected by India's anti-dumping measures. In addition, India has signed an FTA with ASEAN countries (AIFTA), helping Viet Nam enjoy many preferential import duty rates, contributing to bringing the price of imported steel into India much lower than that of other countries.On June 23, 2020, the Indian Ministry of Finance also canceled the order to impose anti-dumping tax on Vietnamese aluminum-zinc alloy coated steel products, lowering the duty rate to 0%.4. The most profitable solution to export steel from VietnamIndian importers can benefit from and own high-quality Vietnamese steel products at the best prices thanks to the 0% duty rate. MRS Steel is a business that helps you import a variety of steel products from Vietnam, sourcing and supporting the import to help you save time, money, and reduce the risk of theft and fraud. We are headquartered in Vietnam, a network connected with the largest domestic steel corporations to support export steel to many global markets such as the EU, US, Canada, Mexico, Australia, Middle East, and Southeast Asia. If you have any questions or require additional information about the Vietnamese steel market, please contact MRS Steel via email at vanloc@mrssteel.com.vn for the best assistance from a team of experts.