EU Imposes Temporary Anti-Dumping Duty of Up to 12.1% on Vietnamese Hot-Rolled Steel

The European Commission (EC) has imposed a provisional anti-dumping duty of up to 12.1% on certain hot-rolled steel products imported from Vietnam, with the exception of products from Hoa Phat Dung Quat.

According to Vietnam’s Trade Remedies Authority, on April 7, the EC issued its preliminary conclusion and decision to apply temporary anti-dumping measures on select Vietnamese hot-rolled steel products.

Based on data submitted by two Vietnamese companies—Formosa Ha Tinh Steel Corporation and Hoa Phat Dung Quat Steel—the EC determined that the preliminary dumping margin for Vietnamese products ranges from 0% to 12.1%, depending on the exporter.

As a result, the EC decided to apply a 12.1% provisional duty on products from Formosa and other Vietnamese exporters. However, Hoa Phat Dung Quat Steel, owned by billionaire Tran Dinh Long, was exempted with a 0% duty.

The duty is calculated based on the CIF value (cost, insurance, and freight) of the goods at the EU border, excluding customs duties.

Scope of the Investigation

The anti-dumping investigation targets hot-rolled steel under several CN codes within HS groups 7208, 7211, 7225, and 7226 imported from Vietnam. It was initiated on August 8, 2024, following a complaint by the European Steel Association (EUROFER).

• Dumping period: April 1, 2023 – March 31, 2024
• Injury assessment period: January 1, 2021 – March 31, 2024

According to the EC’s preliminary findings, the EU’s hot-rolled steel industry has suffered material injury, evidenced by declines in market share, prices, profits, investment levels, and employment.

Next Steps for Vietnamese Stakeholders

Vietnam’s Trade Remedies Authority has urged the Vietnam Steel Association (VSA) and exporting manufacturers under investigation to thoroughly review the EC’s findings and continue full cooperation during the next phase of the investigation.

Source: VNExpress