This information is outlined in Decision 2310 issued by the Ministry of Industry and Trade (MoIT) regarding the formal application of anti-dumping duties on certain coated steel products (also known as coated sheet steel) from China and South Korea.
The highest duty rate applied is 37.13% for goods originating from China and 15.67% for products from South Korea.
Since April, provisional duties ranging from 15.67% to 37.13% have been in place on coated steel from China and South Korea. Manufacturers not subject to these formal duties, or those facing lower formal rates, will be refunded any overpaid or previously collected anti-dumping duties.
The MoIT initiated the investigation following a request from five companies: Hoa Sen Group, Nam Kim, Ton Phuong Nam, Ton Dong A, and China Steel & Nippon Steel Vietnam.
The MoIT stated that authorities conducted on-site investigations of manufacturing and exporting enterprises to determine the extent of dumping. They also collaborated with related units to thoroughly assess the impact of the investigated imports on the domestic manufacturing sector and downstream producers.
The investigation confirmed the existence of dumping practices, significant damage to the domestic industry, and a causal link between these imports and the substantial harm experienced by domestic producers.
Consequently, the MoIT decided to impose formal anti-dumping duties. However, these rates are subject to review and adjustment upon request from relevant parties to ensure accurate targeting, appropriate levels, and reasonable application periods.
This is the second anti-dumping duty imposed on steel products this year. In early July, similar duties were applied to hot-rolled steel from China, based on complaints filed by Hoa Phat Group and Formosa.
Anti-dumping duties on coated steel were previously in effect from 9/2016 to 5/2022.
According to a report from MBS Research, the implementation of anti-dumping duties from April has narrowed the price gap between Chinese and Vietnamese steel, enabling domestic businesses to increase their market share. Hoa Sen Group, the leading coated sheet steel producer, is expected to increase its market share from 29% in 2024 to 30% this year. Hoa Sen's market share is projected to increase by a further 1% in 2026, solidifying its leading position in the coated steel industry.
In addition to tax policies, coated steel prices are expected to recover from Quarter III/2025, driven by growing demand from the real estate market and public investment disbursement. The reduced competitive pressure from cheaper Chinese steel is also expected to support the business performance of domestic enterprises in the coming period.
Phuong Dung
