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Steel industry worry safeguard to avoid depletion
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Not when the steel industry struggled to compete with imported steel as today. If none of these remedies in legitimate trade, there will be many steel companies were falling. In 2015, the steel industry has seen a huge amount of imported steel on the market [...]
Updated at 20/01/2016 12:18 PM
Not when the steel industry struggled to compete with imported steel as today. If none of these remedies in legitimate trade, there will be many steel companies were falling.

In 2015, the steel industry has seen a huge amount of imported steel in the domestic market, with production of up to 15.098 million tons, up 28.3% from the same period last year, reaching a value of about 7.3 billion.

Steel imports flooded with cheap is a major threat to domestic enterprises. Therefore, in 2016, along with promoting the production, maximum reduction of input costs, the major problem of domestic enterprises is how to cope with imports, which, in many enterprises are recommended authorities protect the domestic steel industry by the safeguard measures.

Mr. Nguyen Thanh Trung, general director of JSC Ton Dong said that steel imports in 2015 rose nearly 30%, with more than 15 million tonnes, if no timely measures to prevent, many businesses will be forced to internal depleted. It should have a plan to respond quickly, strongly to protect domestic producers.
The "major" steel industry suggest MOIT imposed provisional safeguard duties of 45% for billets and 33% for long products manufactured from imported steel

It should be added, the amount of iron and steel imports into Vietnam in 2015 originated primarily from China, Japan, Korea, Taiwan, in which steel from China accounted for over 50% of the price cheap.

Before the arrival of imported steel is growing, in the end 12/2015, 4 "big" is the steel industry Hoa Phat Steel Joint Stock Company, Limited Company of Southern Steel, Taiyuan Iron and Steel Corporation and Company CP Vietnam Italy Steel filed to the Competition Administration Department (MOIT) suggests the application of safeguard products and long steel billet imports into Vietnam.

According to these firms, with an increase in mutations and abnormalities of imported goods subject to the investigation in recent times. Specifically, the volume of imported steel from 600,000 tonnes in 2014 has increased to 1.5 million tons in 2015. Steel imports from nearly 830,000 long tons in 2014 and rose to more than 1.2 million tonnes in 2015. This has caused serious damage to the steel industry, reducing capacity, market share, profits, labor makes job loss.

Reportedly, with the billet, 4 enterprises now account for almost 40% of domestic production. For long products, these companies account for over 34% of total manufacturing output. Phase investigation determined the damage is calculated from the date 1/1/2012 to 30/09/2015.

According to information in the records, the domestic sales volume of billet products of domestic industry increased by 5-10% in 2015, while imports of goods increased from 150-160% in the same period. 4 now apply for that, this has severely reduced the market share of steel production sector in the country, affecting business performance, profit ...

Thus, plaintiffs suggest MOIT imposed provisional safeguard duties of 45% for billets and 33% for long products manufactured from imported steel, irrespective of the country of export in time 200 days to remove difficulties for claimants and ensure the competitiveness of products and long steel billets produced domestically.

After reviewing the record, the Ministry of Trade and Industry has confirmed that the request is complete and valid according to the law. Minister of Industry and Trade issued Decision No. 14 296 / QD-BCT on the survey apply safeguard measures on steel billet and steel products imported into Vietnam long.

According to the Vietnam Steel Association (VSA), the scale of China's steel industry is too big, so they must consume by boosting exports and this phenomenon is not only difficult for Vietnam but for the whole EU ...

Based on steel demand and supply situation in the world, VSA said that construction steel price in 2016 is unlikely inched up, as supply relative to demand and the surplus countries with large steel production as China remains are implementing policies to boost exports. VSA also suggested that domestic steel enterprises closely linked to increased competition and protect domestic producers before the invasion of imported goods.
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