Vietnam Faced with Oversupply, China Imports, and US Ire

The Vietnam steel industry is between the proverbial rock and hard place. U.S. steel manufacturers claim that Vietnamese exporters are party to China’s circumvention of antidumping and countervailing duties on cold rolled steel and are calling for AD duties to match those on China products. Vietnam’s influx of Chinese steel is also a concern for its domestic steel industry which can’t compete against China’s low prices. If the U.S. investigation results in reducing the flow of Chinese steel to Vietnam it would bolster orders for Vietnam domestic steel mills but any export orders they generate would be penalized by additional US duties.

The Vietnam Steel Association said it will protect the interest of its domestic steel firms. The association’s vice chairman, Nguyen Van Sua told the Vietnam News Agency that the association will “collaborate with enterprises and State management agencies to ensure that appropriate measures meet all international regulations.”