In the first 9 months of 2024, Vietnam imported nearly 8.8 million tons of HRC, an increase of 26% over the same period.

According to data from the General Department of Customs, hot-rolled coil (HRC) imports to Vietnam reached 1.2 million tons, up 34% compared to August and equal to 220% of domestic production output.

In the first 9 months of 2024, Vietnam imported nearly 8.8 million tons of HRC, an increase of 26% over the same period in 2023 and equal to 171% of domestic production.

Of which, the amount of HRC steel imported from China accounts for 72%, equivalent to 6.3 million tons, far exceeding the amount of products consumed by domestic manufacturing enterprises, which only reached 5.1 million tons.

Chinese hot-rolled steel coil accounts for the majority of imports into Vietnam mainly because the selling price from this market is lower than other markets.

In 2023, the total import volume of HRC steel into Vietnam will be 9.64 million tons, an increase of more than 1.5 million tons compared to the import volume in 2022 of 8.1 million tons.

Thus, the amount of imported HRC continues to flow into Vietnam, even after the Ministry of Industry and Trade issued a Decision to investigate and apply anti-dumping measures on imported HRC products originating from India and China from the end of July 2024.

On March 19, 2024, the Trade Defense Department received a request for investigation to apply anti-dumping measures on some hot-rolled steel products originating from the Republic of India and the People's Republic of China from two enterprises representing the domestic manufacturing industry, namely Hoa Phat Dung Quat Steel Joint Stock Company and Formosa Ha Tinh Steel Corporation.

Based on the request dossier, the Investigation Agency has conducted an appraisal and issued official dispatches requesting additional information and clarification on the scope of products, the basis for determining dumping behavior as well as signs of causing or threatening to cause significant damage to the domestic manufacturing industry and the causal relationship between dumping behavior and damage to the domestic manufacturing industry.

By May 31, 2024, the Investigation Agency had conducted an assessment and issued official dispatches requesting additional information and clarification of relevant information, and then confirmed that the Request Document was complete and valid.

The investigation period for determining dumping behavior is from July 1, 2023 to June 30, 2024. The investigation period for determining injury is from July 1, 2023 to June 30, 2023.

Previously, the Ministry of Industry and Trade was assigned to preside over and coordinate with the Ministry of Finance and relevant agencies to review and grasp the situation of increased hot-rolled steel imports. Thereby, proactively implementing appropriate, timely and effective measures according to authority and legal regulations, protecting the legitimate interests of the domestic manufacturing industry in accordance with international practices and a fair competitive environment.