A free trade agreement between Thailand the European Free Trade Association (EFTA), including Switzerland, Norway, Iceland and Liechtenstein, will be signed in Davos on January 23, becoming the first pact of its kind between the Southeast Asian country and the trade bloc.
The Ministry of Industry and Trade (MoIT) has requested an investigation and application of anti-dumping measures against some galvanised steel products originated from China and the Republic of Korea (RoK).
The steel industry in Vietnam is expected to have a positive outlook for 2024, with major companies like Hoa Phat and Hoa Sen projected to experience significant recoveries, while small businesses may face challenges in finding output due to the recovery of steel prices and demand from large contractors.
To improve competitiveness for the steel industry, businesses have been advised to optimise technology, save energy, and implement product quality standards, experts said.
BSI - the UK's leading international certification organisation - has just certified ISO 14064-1:2018 standard on greenhouse gas inventory for steel products of Hoa Phat Dung Quat Steel Joint Stock Company.
Chairman of the Indonesian Iron and Steel Industry Association (IISIA) Purwono Widodo on November 7 said that the Southeast Asian country’s steel demand surges in 2023 due to the construction of major national projects.
Many insiders believe that 2022 will be a promising year for the steel industry when the pandemic is brought under control and construction demand rebounds strongly.
The US Department of Commerce (DOC) has received a request for investigation into the alleged circumvention of anti-dumping duties by Vietnam’s corrosion-resistant steel products (CORE) made from cold rolled steel (CRS) and hot rolled steel (HRS) imported from Japan.
The Philippines Department of Trade and Industry (DTI) has announced that it will suspend three safeguard investigations on some imported steel products, according to the Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade.
Vietnam’s largest steelmaker Hoa Phat Group has announced that it contributed over 6.3 trillion VND (about 276 million USD) to the State budget in the first seven months of the year, posting a year-on-year jump of 94 percent.
Steel prices have hit a new high after a series of rapid increases from May through June 2021 when they increased by more than 50 percent compared to the beginning of the year.
The Canadian International Trade Tribunal (CITT) has issued a notification on the launching of inquiry for exclusion requests concerning imports of a number of imported steel products originated from some countries, including Vietnam.
Vietnam’s largest steelmaker, the Hoa Phat Group, sold a total of 3.7 million tonnes of steel products in the first five months of this year, up nearly 70 percent against the same period last year.
The production and consumption of building materials started resuming at the end of the third quarter this year as lots of construction works were speeding towards completion, however, local producers have been warned to watch the market to avoid a possible surplus.
The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade has sent a consultation letter to the Philippines’ Department of Trade and Industry asking it to exclude Vietnam from three safeguard investigations on some steel products.
Thailand will impose anti-dumping tariffs ranging from 6.97 percent to 51.61 percent of cost, insurance and freight (CIF) prices on some imported steel products from Vietnam, the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade said.
The Thai Government has extended the anti-dumping duty on cold-reduced carbon steel, both coiled and uncoiled, from China, Vietnam and Taiwan (China) for the next five years to curb supply from the three markets.
Consumption of steel products, especially colour-coated steel, declined in October while production continued to rise, according to the Vietnam Steel Association (VSA).
Hoa Phat Group, a leading steel maker in Vietnam, shipped 191,600 tonnes of steel products aboard in the first nine months of 2019, rising 32 percent year on year and accounting for nearly 10 percent of its total sales.
