AsemconnectVietnam - On July 28, 2023, the Trade Remedies Authority of the Ministry of Industry and Trade of Vietnam announced that the anti-dumping (AD) measure on cold-rolled stainless steel products from China, Taiwan, Malaysia, and Indonesia will expire after one year. The authority has received the request for a review of this case.

The domestic interested parties have the right to submit an application on or before August 28, 2023.
This AD measure was officially implemented in October 2014. The result of the first sunset review was announced in October 2019, and the measure continued on October 26, 2019, valid for five years.
The products involved are classified under HS codes 219.32.00, 7219.33.00, 7219.34.00, 7219.35.00, 7219.90.00, 7220.20.10, 7220.20.90, 7220.90.10, and 7220.90.90.
Vietnam’s AD measure on painted steel from China, South Korea to expire next year
On July 26, 2023, the Trade Remedies Authority of the Ministry of Industry and Trade of Vietnam announced that the anti-dumping (AD) measure on some painted alloy or non-alloy steel flat-rolled products from China and South Korea will expire after one year. The authority has received the request for a review of this case.
The domestic interested parties have the right to submit an application on or before August 25, 2023.
This AD duty was first imposed by the Ministry of Industry and Trade on October 24, 2019, following an affirmative determination.
Vietnam’s steel output & sales decrease in Jun m-o-m, y-o-y
According to data from Vietnam Steel Association (VSA), in June, Vietnam’s finished steel production amounted to 2.01 million tons, decreasing by 9.52% month on month and by 16.2% year on year.
Meanwhile, the sales of steel products amounted to 2.16 million tons, a month-on-month drop of 6.41% and a year-on-year decrease of 4%.
In the first six months of this year, Vietnam’s steel production went down by 20.9% year on year to 13.1 million tons, and the sales of steel products decreased by 17.5% from the same period a year ago to about 12.48 million tons.
Vietnam’s steel exports to Singapore increase in May m-o-m
According to statistics from Vietnam’s customs, in May, Vietnam’s steel exports to Singapore increased by 12.87% month on month to over US$39.8 million. Meanwhile, the total of Vietnam’s steel exports amounted to over 1.1 million tons, and the value was above US$931 million.
In the first five months, Vietnam’s steel exports to Singapore were merely around over US$40.8 million, falling by 70% year on year. At the same time, the whole Vietnam’s steel exports were over 4.3 million tons, increasing by 10.4% year on year.
Vietnamese Hoa Phat group's crude steel production decreases
The largest steel manufacturer in Vietnam, Hoa Phat Group, reported that crude steel production in June was about 520,000 tons, down by 23% from the same month a year ago.
Meanwhile, the sales volume of construction steel, billet, and hot-rolled coil (HRC) reached 540,000 tons, a year-on-year decrease of 4%.
In the first six months of 2023, Hoa Phat produced around 2.86 million tons of crude steel, a 34% decrease from the same period of the previous year. Construction steel, billet, and HRC sales totaled 2.9 million tons, a 27% decrease from the first six months of 2022.
In the first half year, Hoa Phat's construction steel production decreased by 30% year on year to more than 1.6 million tons.
Vietnam's tight power supply still affects steel market
In Vietnam, although the power crunch caused by high temperatures and drought has eased, it still has an impact on the steel market. Downstream demand has declined, and inventories have reached a relatively high level, thereby reducing import purchases. Vietnamese steel mills are looking for more export opportunities.
On June 22, Vietnam Electricity (EVN) announced that the electricity supply is sufficient for Northern Vietnam as water levels rise in hydroelectric dams. However, EVN also warned that because there is no excess energy supply in Northern Vietnam, there may still be a shortage of power supply in the future.
Compiled by T.Huong
Source: Vitic/Yieh