BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Metals

Vietnam to slap anti-dumping duties on China, South Korea coated steel

Energy | LNG | Natural Gas | Natural Gas (European)

Russian Gas in Europe: More Than Pipelines

Jet Fuel

Platts Jet Fuel

Agriculture | Electric Power | Natural Gas (North American) | Oil | Metals | Petrochemicals

North American Digital Commodities Summit, 2nd Annual

Petrochemicals

Panorama del segundo semestre: La oferta mundial de propileno seguirá siendo abundante

Vietnam to slap anti-dumping duties on China, South Korea coated steel

Singapore — Vietnam plans to impose anti-dumping duties on coated steel from China and South Korea effective from June 25, for around four months, before final determinations in the ADD investigations are made, the country's trade ministry said this week.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

According to the trade ministry's announcement, 19 Chinese companies would be subjected to ADD rates ranging from 3.45% to 34.27%, with the rate for material from Yieh Phui (China) Technomaterial the lowest at 3.45%. Products from other unspecified Chinese companies would be applied an ADD rate of 34.27%. Products from South Korea's Dongbu Incheon Steel and Dongkuk Steel Mill would be subjected to ADD rates of 4.48% and 18.08% respectively. ADDs for products from other South Korean producers would be 19.25%.

"I think in a short-term, the anti-dumping duty could ease the current pressure on Vietnam's domestic coated steel industry. It would definitely limit the exports from China and South Korea, but that also means more potential market share for Taiwanese and Japanese producers," said a Taiwan-based mill source.

The duties will be applied to certain alloy or non-alloy, varnished painted or coated flat steel products from China and South Korea.

Vietnam's trade ministry started an investigation on the imposition of ADDs for some products from China and South Korea on June 1, 2017, which was requested by four local steelmakers. The proposed ADDs by the requesters were 25.5% for imported products from China and 19.25% for South Korea.

Little impact has been observed so far on the regional steel market after the Vietnamese ministry's announcement.

"We have not been exporting much coated steel to Vietnam for a long time. I don't foresee much impact after this announcement," said an eastern China-based mill source. Chinese coated steel exports to Vietnam have already dropped this year due to the tariff concerns, an eastern China-based trader commented.

"I don't think much (South) Korean coated steel is exported to Vietnam, so very limited impact on (South) Korean mills," said a South Korean mill source.

-- Fay Gao, xiaojuan.gao@spglobal.com

-- Edited by Nurul Darni, newsdesk@spglobal.com