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Formosa seeks steel economic zone

The firm’s proposal for investment incentives that go beyond the current package of preferences stipulated by law has elicited a strong reaction from investment promotion officers, steel manufacturers and economists. Le Dang Doanh, a renowned independent economist, commented that the proposal is “unusual” and does not fit the Vietnamese current …

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US imposes anti-dumping tax on Vietnam’s steel pipe

The United States has levied duties on stainless steel pressure pipes imported from Malaysia, Thailand and Vietnam after finding the products had been sold at unfairly low prices. Reuters reported that the US Department of Commerce decided to introduce duties as high as 167.1% for some products from Malaysia. The …

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New Zealand, opportunity for Vietnamese products

The Indonesia Anti-Dumping Committee (KADI) has initiated a preliminary investigation into cold rolled steel imported from Vietnam, according to the Vietnam Competition Authority. The similar product from Taiwan, China, Japan and the Republic of Korea is also under the microscope at the request of Krakatau Steel – Indonesia’s biggest steel …

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Steel industry experiences New Year slump

The Ministry of Industry and Trade (MoIT) reports steel production and consumption faced difficulties in January due to an imbalance in supply and demand. Many businesses only managed to achieve 40-50% of their production capacity, fuelling production costs. Demands for steel in late Lunar New Year (Tet) declined significantly despite …

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US unveils anti-dumping duty on Vietnam’s steel pipe

In its preliminary determination, the US Department of Commerce (DOC) has found Vietnam and two other Southeast Asian countries dumped their welded stainless pressure pipes on its market. DOC statistics show the US imported US$18 million worth of such pipes from Vietnam, US$18.6 million from Malaysia and US$22.9 million from …

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Steel exports look beyond US$2 billion in 2013

Vietnam is expected to ship around 2.5 million tonnes of steel abroad by the end of 2013, earning more than US$2 billion. The Vietnam Steel Association (VSA) reported its members’ 2013 steel output is an estimated 5 million tonnes, while consumption volume exceeded 4.6 million tonnes. Around 300,000 tonnes of …

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Ministry judges anti-dumping measures against steel imports

The decision by the Competition Administration Department (CAD) under the Ministry of Industry and Trade (MOIT) on applying anti-dumping measures against the steel imports from four markets–has put Vietnamese manufacturers on tenterhooks. In late May 2013, CAD received a petition from Posco VST and Inox Hoa Binh JSC, requesting to …

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Steel sector struggles to escape rut

The domestic steel industry is continuing to suffer while the real estate market remains frozen, according to the Market Watch Team. September steel consumption was low due to prolonged storms and the rainy season, reported the Ministry of Industry and Trade’s Industry and Trade Information Centre (VITIC). September’s construction steel …

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Vietnam sees rise in global competitive capacity

Vietnam has jumped five notches to 70th among 148 economies listed in the World Economic Forum’s 2013-2014 Global Competitiveness Report. According to the report, Vietnam’s macroeconomic environment was improved considerably, rising almost 20% to 87th position. Inflation was brought under control to a single-digit figure in 2012, alongside improved quality of transport …

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Steel exports face anti-dumping lawsuit in US

The US Department of Commerce (DOC) has officially begun antidumping duty investigations into oil country tubular goods (OCTG) imported from Vietnam, according to the Vietnam Competition Authority (VCA). On July 22, the DOC asked Vietnamese steel producers answer its inquiries into the price and value of made-in-Vietnam OCTG by August …

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