EU initiates anti-dumping probe into hot-rolled steel from Vietnam
VOV.VN - The European Commission (EC) has recently issued a notice aimed at initiating an anti-dumping investigation into a number of hot-rolled steel products imported from Egypt, India, Japan, and Vietnam, according to the Trade Remedies Authority of Vietnam (TRAV).
The investigation has been conducted following a request made by the European Steel Association (EUROFER).
The anti-dumping investigation period is from April 1, 2023, to March 31, while the damage investigation period is from January 1, 2021, to March 31.
Under the terms of the notice, the EC has provided concrete information regarding the investigation procedures and related deadlines, as well as regulations on the rights and obligations of the concerned parties on the EC's TRON electronic system.
The TRAV has therefore recommended that the Vietnam Steel Association and local enterprises carefully study the attached documents, fully co-operate with the EC to provide information and documents in accordance with the prescribed format and deadline, as well as regularly co-ordinating alongside the TRAV to receive timely support.
According to the General Department of Vietnam Customs, Vietnam exported more than 210,000 tonnes of steel to the EU market in June, down 24.4% compared to the same period from last year.
The average export price in June increased by 6% to more than US$710 per tonne compared to May, but dropped by 11% on-year. The first half of the year witnessed the country export 1.6 million tonnes of steel to the demanding market, up 21% on-year.
Data compiled by the European Statistical Office (Eurostat) indicates that compared to other steel suppliers to the EU in the first five months of the year, the Vietnamese export price remains higher than steel prices from many countries such as Russia, Ukraine, and Egypt, hovering at EUR681 per tonne.
According to the latest report released by the Vietnam Steel Association, the Vietnamese steel market shares within the EU ranked seventh, up 13 notches compared to 2020, the time when the EU-Vietnam Free Trade Agreement (EVFTA) initially came into effect.
Specifically, as of May, the market share of Vietnamese steel in the EU accounted for 6.1%, a sharp increase compared to 2020’s figure of 0.7%.
