Vietnam on stainless steel tariffs level creeps up

Representatives of the Vietnamese Ministry of industry and Commerce announced approval of a new anti-dumping duties. They will be imposed on stainless steel cold-rolled products. New anti-dumping duties will affect Indonesian, Taiwanese, Chinese and Malaysian manufacturers. The decision on fees was taken on the basis of re-investigation. It was held in connection with the expiration of the previous tariff. The beginning of the investigation in October last year. The event was initiated by local producers of stainless products.

The result of the investigation was the increase of existing duties. Indonesian steelmakers will pay of 13.03%. The amount of anti-dumping fee was % to 3.07%. For Chinese stainless steel duty will be of 17.47 is 25.5%. Previously, the tax was 5.1 and 6.6%. The Taiwanese company Yuan Long Stainless Steel Corporation will pay 37,29%. The exception is the Malaysian steelmakers, for which anti-dumping duty has declined to the level of 9.55%. The previous rate was 10.71 per cent.

The new tariffs will come into force 14.05.2016 year. Their action is calculated to 06.10.2019. Experts say that in 2015, Vietnam is ranked among the world’s largest importers. The volume of exported products amounted to 13.7 million tons. The figure is higher, 2014 results by 23%. Recently, the government has taken active measures, protecting the domestic market of hire. In the end foreign products is good competition.

Vietnamese long products. Fuco Steel company, today one of the leaders in the development of billets, expanding. The company management ordered the company Danieli, Italy, the construction of a new rolling mill. Its annual capacity will be 600,000 tonnes. To release it is planned fittings, long products, wire rod and rebar. The main purpose of products is the construction sector. The construction of the new plant is located next to the functioning of the smelting factory of the company. Its annual production capacity is 800,000 tons. You’ll smelter in the South of Vietnam. This industrial zone has already Danieli for the construction of four enterprises. They all focused on the production of steel. Commissioning of the new mill is scheduled for late summer 2017.