US Importers Seeking Vietnam Coated Steel after Antidumping 5 Countries

US Importers are seeking coated steel from Vietnam after Commerce finds dumping of imports of Corrosion-Resistant Steel Products from China, India, Italy, Korea, and Taiwan, Countervailable Subsidization of imports of Corrosion-Resistant Steel Products from China, India, Italy, Korea, and No Countervailable Subsidization of imports of Corrosion Resistant Steel Products from Taiwan.

On May 25, 2016, US flat steel importers faced affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of corrosion-resistant steel products (CORE) from China, India, Italy, Korea; its affirmative final determination in the AD investigation of imports of CORE from Taiwan; and its negative final determination in the CVD investigation of imports of CORE from Taiwan.

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https://mrssteel.com.vn/us-importers-seeking-vietnam-coated-steel-after-antidumping-5-countries/

U.S. Steel Importers Face Import Duties of Over 400% on Flat Steel from Vietnam

U.S. Steel importers face import duties of over 400% on certain flat steel imports from Vietnam using material from South Korea and Taiwan from Tuesday, July 2, 2019.

In three preliminary circumvention rulings on Vietnamese steel, the Commerce Department said certain products produced in South Korea and Taiwan were shipped to Vietnam for minor processing before being exported to U.S. as flat coated steel (corrosion-resistant steel products) and cold-rolled steel (CRC). Customs officials have been ordered to collect cash deposits at rates as high as 456.23% on imports of certain flat steel products produced in Vietnam using material from South Korea and Taiwan.

Vietnam says it’s working to reduce its trade surplus with the U.S., and is already cracking down on Chinese manufacturers who are rerouting their goods via the Southeast Asian nation for export to the U.S. in order to bypass higher tariffs.

What is the problem to US steel importers?

Read more at:

https://mrssteel.com.vn/u-s-steel-importers-face-import-duties-of-over-400-on-flat-steel-from-vietnam/

Asia Hot Rolled Coil ( HRC ) Market Price Trend

Domestic Chinese HRC prices keep increasing since last Wednesday based on local producers’ trust in the direct & indirect effects of an increase in iron ore & governmental production limitation policies. 

Idea export prices of HRC SAE 1006 ex China is being referred at usd/mt 525 FOB. This price level is too tough at this moment for ASEAN markets to absorb when the demand is rather slow due to sharp decrease in demand of processing & re-exporting of the main ASEAN re-rollers. Whereas, main markets such as Indonesia, Malaysia, Thailand and Vietnam are watching how the market will go on next days before making new purchase decision.

Taiwanese HRC mills are not in an urgent status of offering for Sept shipment orders, which may stemmed from their caution in this sensitive period. Idea prices of HRC SAE 1006 ex Taiwan should be around 530-540 CFR ASEAN. 

👉 Read More:

https://mrssteel.com.vn/asia-hot-rolled-coil-hrc-market-price-trend/