New Price Formosa Vietnam 13th December 2019

With the up trend domino effect in all markets, today 13th December 2019, new price Formosa Ha Tinh has increased officially 15 usd/ton for end of January/February 2020 shipment.

• HRC SAE1006 skin-passed: 485 usd/ton CIF FO (470 usd/ton CIF previously)
• HRC SS400 and pipe making grade: 475 usd/ton CIF FO (460 usd/ton CIF previously)
• HRC SPHT3, S235JR, SG255 and SS490: 505 usd/ton CIF FO (490 usd/ton CIF previously)

In the same time, new price Formosa offers for long products are up by 10 usd/ton for cargoes to be shipped and delivered in end of January/February 2020 shipment.

• Wire rod grade 2 mesh quality mild steel: 492 usd/ton CIF (482 usd/ton CIF previously)
• Wire rod mesh quality: 510 usd/ton CIF (500 usd/ton CIF previously)
• Wire rod general cold work quality: 520 usd/ton CIF (510 usd/ton CIF previously)

https://mrssteel.com.vn/new-price-formosa-vietnam-13th-december-2019/

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Overall EU Steel Export And Import Within 2019

EU Steel Safeguard Measures were partly motivated by the fear that US measures would detour to EU the steel flows losing their markets in US as well as in other parts of the world. The following charts will illustrate how recent prevailing global steel protectionism and EU steel safeguards have impacted EU steel export and import. 

1. EU steel export

• Despite a more and more protectionist market environment, EU mills deliveries into export markets did only slightly fall by -1,7 % in first 6 months of 2019. 

• Exports of Strip Mill Products did increase significantly, whereas exports of longs dropped heavily, explaining the overall negative development of exports by EU mills.

• EU mills were able to increase All Steel Products exports mainly to emerging economies in Asia and Central America, whereas exports to some traditional export markets did slump.

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Updated Price for Vietnam’s HRC Market on 19th October 2019

#HRCPrice #VietnamMarket #HotRolledCoil

With the down price trend due to weak demand in all markets, Formosa Ha Tinh has adjusted new price for December shipment by a decrease of 20 usd/ton.

HRC SAE1006 skin-passed: 460 usd/ton CIF (480 usd/ton CIF previously)
HRC SS400 and pipe making grade: 450 usd/ton CIF (470 usd/ton CIF previously)
HRC SPHT3, S235JR, SG255 and SS490: 480 usd/ton CIF (500 usd/ton CIF previously)...

👉 Read More:

https://mrssteel.com.vn/updated-price-for-vietnams-hrc-market-on-19th-october-2019/

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India has imposed provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea.

India has imposed provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea.

In 15th October, 2019, India issued a Notification No.40/2019-Customs with content that apply provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea. 

Earlier, on July 15, 2019, the Indian Government issued a notice of the preliminary investigation. And now, after 3 months of continuing the investigation, the results of the investigation are almost unchanged and that is also the result of the newly announced interim tax.

The results are shown in the following table:

No	Country of Origin/ or Export	Country of Export	Producer	Duty Amount (USD/ton)
1	Korea RP	Korea RP	Dongkuk Steel Mill Co., Ltd	28.67
2	Korea RP	Korea RP	POSCO	113.49
3	Korea RP	Korea RP	POSCO Coated & Color Steel Co., Ltd	113.49
4	Korea RP	Any	Any other producer	122.66
5	Any country	Korea RP	Any	122.66
6	Vietnam	Vietnam	Ton Dong A Corporation	45.35
7	Vietnam	Vietnam	Hoa Sen Group	54.07
8	Vietnam	Vietnam	Tay Nam Steel Manufacturing and Trading Co., Ltd	49.05
9	Vietnam	Vietnam	Nam Kim Steel Joint Stock Company	86.06
10	Vietnam	Any	Any other producer	199.53
11	Any country	Vietnam	Any	199.53
12	China PR	China PR	Zhejiang Huada New Materials Co., Ltd	68.08
13	China PR	Any	Any producer	129.59
14	Any country	China PR	Any	129.59

This Anti-Dumping Duty only apply for Aluminium/Zinc Coated Steel, and exclude Zinc Coated Steel without addition of Aluminium; Aluminium Coated Steel without addition of Zinc; and Pre-painted or Colour Coated Aluminium Zinc alloy coated steel. 

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Vietnam Ranked In Top 10 Ranking of Country Import to USA – High Risk Facing Trade Defense

In the first 9 months of 2019, Vietnam’s exports to the US market increased by 34% to US $ 10.9 billion, leaping from 12th to seventh on the list of US suppliers of goods. . Previously, there was speculation that Vietnam could outstrip Italy, France, the United Kingdom and India to rise to a high position in the top countries exporting goods to the US. If this growth continues, the total value of Vietnam’s exports to the US could reach $ 69 billion.

Among goods exports to the USA, steel is a major commodity and is considered a key product. Vietnam become to stands out among the region whose exports are heavily affected by the US-China trade war. Vietnam’s accession to free trade agreements (FTAs) such as CPTPP, EVFTA will help Vietnamese goods have more opportunities and increase competitiveness when exporting to fastidious markets like the US.

https://mrssteel.com.vn/vietnam-ranked-in-top-10-ranking-of-country-import-to-usa-high-risk-facing-trade-defense/

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Vietnam’s Steel Industry Needs to be More Careful Before The Wave of Trade Defense.

At the end of August, the Ministry of Industry and Trade issued an additional list of Vietnam’s exports likely to be subject to trade defense investigations from other countries around the world.

This list has total 25 products but there are 6 products related to steel industry. The most significant in the steel industry is corrosion-resistant steel products, which can be investigated in two markets, EU and Canada.

On January 22, 2019, Canada imposed anti-dumping duties on anti-corrosion steel products imported from China, Taiwan, South Korea and India with tariffs of 3.6 – 53.3%.

From this time, the amount of goods that Canada imported from Vietnam also increased sharply. In January, exports amounted to 14 million Canadian dollars. The growth rate of export value suddenly increased in April and May 2019. April increased by 90% compared to March and May increased by 2594% compared to April. In the first 7 months of 2019, Canada imported 109.3 million Canadian

https://mrssteel.com.vn/vietnams-steel-industry-needs-to-be-more-careful-before-the-wave-of-trade-defense

Agreso | +84 269 2205 168 |   Thôn 1, xã Nghĩa Hưng, huyện Chư Păh, Gia Lai, Việt Nam

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Time for Vietnamese Producer to Register REX System

As mentioned in previous article, REX System is a self-certification system of product origin. 

Refer to previous article in the following link: 

https://mrssteel.com.vn/rex-system-the-opportunity-of-vietnamese-goods-to-the-eu/

The convenience of this system is that manufacturers no need to apply for C/O form A each time they export goods to the EU. Instead, for orders with a value below 6000 EU, producers can self-certify the origin of their goods, and orders above 6000 EU need to register REX Code at VCCI to be able to self-certification of origin.

However, goods that want to be certified from Vietnam must also meet the requirements for raw materials as agreed by Vietnam and the EU.

Recently, MRS Team has received a lot of questions asking for advice on the REX System registration process, so through this article, MRS Team will share some experience for Vietnamese manufacturers. 

https://mrssteel.com.vn/time-for-vietnamese-producer-to-register-rex-system/

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