China steel dominates home market
(VOV) - Vietnam imported 7.7 million tonnes of steel worth US$3.49 billion from China in the 10 months leading up to November, accounting for 61% of the country’s total steel imports, according to the General Department of Vietnam Customs.
Steel product imports from China hit US$1.13 billion, up nearly 40% year on year, thus elevating the ten-month imports to more than US$4.6 billion.
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Late October, the EU Ambassador to Vietnam sent a document from the European Anti-Fraud Office (OLAF) to the Ministry of Industry and Trade in which it suspected Chinese businesses of bringing steel products with huge volumes into Vietnam to avoid anti-dumping duties imposed by the EU.
The OLAF detected that many steel products bearing Vietnam labelled brands originated from China.