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Vietnam is considering the consequences of protective duties

24 April 2016

Vietnamese Antimonopoly Committee plans in early May public hearing. Will be considered the consequences of the introduction of protective taxes for long products and billets. These duties were established for the period 22.03.2016−07.10.2016 year. For workpiece was set rate of 22.3%. For wire rod, rebar, various kinds of bar rate was 14.2%.

Metallurgical Vietnam Association reviewed the indicators I quarter of 2016. According to the realization of the production of steel for the construction sector increased by 56%. The estimation was made in comparison with the same period last year. Improvement was observed against the background of recovery of the domestic construction industry. A large proportion of the needs covered by imported volumes, mainly supplied from China. In January and February 2016 shipments amounted to over 900,000 tonnes.

According to the Association for the I quarter of 2016, domestic producers have developed 1.04 million. Tons of billets. This indicator is higher than the result of 2015 by 13.7%. Armature produced 1.09 million. Tons. The growth compared to the same period last year by 32.2%. Manufacture of other long products increased by 23.7% to 1.11 million. Tons. However, in March, we had lower growth rates than for the entire quarter. Once the duties were imposed, the domestic companies active in terms of scrap purchases. In this regard, it is hoped that the internal production of steel and rolled products will increase in April.

However, the frequent complaint of Vietnamese builders. We are talking about the growth of the cost of steel products after the introduction of import restrictions. According to the Antimonopoly Committee, in March the cost of rebar increased. The increase was more than 20%. In April price increase continued. The representatives of some construction companies are extremely unhappy with the situation. Taking into account the increasing cost of purchasing, hire purchasing internally reduced. However, the increase in the cost of rebar and billet in March and April was observed at the global level. Because it can be argued that the actions of metallurgists Vietnam fit within the general trends.

International steel products from 21 March checked for compliance with domestic standards. Samples of imported batches are subject to certain checks. Determined their chemical composition, physical, mechanical properties. Evidence that the test is passed, allows to make customs clearance.

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