Vietnam's Ministry of Industry and Trade has announced its decision in the antidumping (AD) duty investigation of cold rolled stainless steel imports from China, Malaysia, Indonesia, and Taiwan.
The ministry has decided that cold rolled stainless steel products imported from China, Malaysia, Indonesia, and Taiwan have been sold below fair market value and caused significant damage to the Vietnamese steel sector. This is the first time Vietnam has imposed antidumping tariffs on steel imports.
The ministry has calculated import tariffs ranging from 4.54 percent to 6.87 percent for Chinese producers, 10.71 percent for Malaysian producers and 3.07 percent for Indonesian producers. An import tariff of 37.29 percent has been imposed on Taiwanese producer Yuan Long Stainless Corp., while a tariff of 13.79 percent has been imposed on all other Taiwanese producers.
The antidumping investigation in question was initiated in June 2013 upon a complaint filed by Vietnamese steelmakers Posco VST Co Ltd and Inox Hoa Binh JSC. The decision will take effect on October 5.