Vietnam begins investigation into stainless steel imports

Thanh Nien News

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The Ministry of Industry and Trade has launched an investigation into import of painted stainless steel in response to local producers' complaints that an influx of imports is hurting their business.
If their allegations prove to be true, the ministry is expected to take safeguard measures against imports such as increasing tariffs.
At the moment painted stainless steel products are subject to duties of 0-7 percent.
According to a ministry statement Thursday, it will investigate imports in 2013-15 when they allegedly more than doubled to 311,116 tons, or more than 25 percent of local output. The investigation will wrap up in six months at the earliest.
The complaints were filed by three producers, Dai Thien Loc Corporation, Nam Kim Steel JSC, and Ton Dong A Company, who collectively account for 99.86 percent of Vietnam's painted stainless steel output.
Earlier this year the ministry levied additional tariffs on imported steel billets and rods as a temporary safeguard measure while it was investigating the alleged damages caused by the cheap imports to the local industry. The investigation, launched at the end of last year, is expected to be completed this quarter.

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