The Vietnam Steel Association (VSA) wants the Government to take a strong stance against anti-dumping duties levied by the US on certain products, including raising a dispute with the WTO, if needed.— VNA/VNS Photo The Vietnam Steel Association (VSA) wants the Government to take a strong stance against anti-dumping duties levied by the US on certain products, including raising a dispute with the WTO, if needed. It has requested the Ministry of Industry and Trade (MoIT) to take measures to support steelmakers in tax evasion investigation initiated by the US for galvanised sheet steel and cold-rolled coils imported from Viet Nam. In case the US does not change its view, the association has recommended that the ministry asks the Government to consider litigation under the auspices of the WTO. The new proposals are a response to the US Department of Commerce (DOC) deciding to impose anti-dumping measures and anti-subsidy rates on corrosion-resistant (CORE) and cold-rolled steel from Viet Nam. The case was initiated in September when US steel producers, including ArcelorMittal USA, Nucor Corp, AK Steel Holdings Corp and Steel Corp filed a formal complaint in which they claimed Chinese steel producers were shipping products via Viet Nam to evade tariffs. In response, VSA said it expects the MoIT and its Department of Trade Defence to protest the DOC’s actions, which it said were inconsistent with international laws. The ministry should ask the DOC to comply with WTO regulations as well as US law before issuing a formal decision on… [Read full story]
According to the Vietnam Steel Association (VSA), more than 576,000 tonnes of construction steel remained unsold as of the end of March 2017, up 17% over the amount at the end of the previous month. In the first quarter of 2017, the sector produced over 4.63 million tonnes of steel, a year-on-year rise of 18.8%, and sold over 3.76 million tonnes, a yearly increase of 6.5%. It is expected to produce 4.5 million tonnes of steel and sell 4.1 million tonnes in the second quarter of this year. Vice Chairman of the VSA Nguyen Van Sua said domestic businesses have…... [read more]
The Vietnam Steel Association (VSA) has called for strict supervision tocontrol the volume of steel imported from China and SoutheastAsian countries.The VSA has sent a proposal to the General Department of Customs,Ministry of Finance and Ministry of Industry and Trade to find an urgentsolution after the volume of domestically-produced rolling steelstrongly reduced in the first two months due to cheaper importedproducts. In the first two months, about 700,000 tonnes ofsix and eight-inch diameter rolling steel were imported from Chinaand ASEAN, putting a strong strain on domestic steel production, the VSAsaid. "Currently, the volume of six and eight-inchdiameter rolling steel has…... [read more]
The frozen real estatemarket and the slow development of the construction market and theshipbuilding industry were some reasons that Vietnam Steel Association(VSA) Chairman Ho Nghia Dung told the media when mentioning difficultiesof the steel industry. The low growth of infrastructure development wasalso a reason of the humble steel sales.The main problem liedin the imbalanced relation between supply and demand on the steelmarket. According to the South East Asia Iron & Steel Institute(SEAISI)’s statistics, Vietnam ranked first among ASEAN countries interms of numbers of new steel projects, with more than 30 new steelprojects in 2013. Apart from the imbalanced relation between…... [read more]
Domestic construction steel prices have reduced by between VND200,000-VND650,000 per ton and are forecast to further fall in the coming time, said the Vietnam Steel Association. Construction steel is sold at VND14.8 million-VND15.3 million/ton in northern Vietnam and at VND14.8 million-VND15.2 million/ton in the southern Vietnam (excluding depreciation and the value added tax). Retail prices of steel on the market are now standing at VND16.8 million-VND17.2 million/ton. Steel supply is sufficient as around 540,000 tons of steel ingot and 145,000 tons of finished steel are still in stock, along with the steel output made by steelmakers in the month. Steel experts said…... [read more]
North Korea conducted a fourth nuclear test in January and a long-range rocket launch the next month, both in contravention of U.N. Security Council resolutions. Expanded U.N. sanctions aimed at starving North Korea of funds for its nuclear weapons programme were approved in a unanimous Security Council vote in early March on a resolution drafted by the United States and China. Blinken, who is meeting senior Japanese government officials in Tokyo, told reporters North Korea would be digging itself deeper into a hole if it pursued further provocations. "There will be additional strong response in case of another (North Korean)…... [read more]
