Vietnam MoT petitions for duty cut in imported steel products
Vietnam Ministry of Trade (MoT), with a recent petition, demanded government to lift import duties on steel ingots and certain finished steel products to stabilize domestic
construction industry.
As previously reported by SteelOrbis, in Vietnam, rising steel prices are injuring domestic steel consumers. As the import duties are high, steel users have to face higher prices of domestic steel producers.
MoT also demanded government to set prices at VND 7-7.5 million ($445-477) levels.
Moreover, MoT also asked the approval of the government to cooperate with related ministries to work on a method to reduce cost of
steelmaking.