Vietnam Ranks Third in the World in Importing Chinese Steel

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According to Mr. Nguyen Van Sua, Vice Chairman of the Vietnam Steel Association (VSA), the amount of steel imported into Vietnam is continuing to increase sharply, focusing mainly in the form of alloy steel. This has a great influence on the production and business activities of domestic enterprises.

A report from VSA shows that, in the first 4 months of the year, Vietnam imported 292,000 tons of steel billets and mainly from China.

If compared to the same period last year, it has increased by 135.4% and with this momentum, the Association predicts, this year the number of imported steel billets, mainly from the Chinese market, may reach millions of tons.

This is remarkable because Vietnam’s billet production capacity has reached 11 million tons/year, but billet demand for 2015 is only about 6.5 million tons.

The data of Chinese steel products exported to Vietnam in recent years, such as rebar, wire steel, and alloy steel, have increased sharply. Specifically, alloy steel wire in 2013 was more than 137,000 tons, but in 2014 it was more than 382,000 tons; Alloy steel wire in 2013 was more than 684,000 tons, by 2014 it was more than 983,000 tons…

From the above data, the representative of VSA said that the quantity of rebar, wire steel, steel plate, hot rolled steel plate, cold rolled steel plate disguised as “alloy steel” and coated steel of all kinds, color coated growing quickly.

This is because these items are favored by China with no export tax and are also entitled to a VAT refund of 9-13%. Moreover, because it is sold as “alloy steel”, it is not subject to tax when imported into Vietnam. Meanwhile, these types of steel and galvanized steel are domestic products that have been produced and still have excess capacity.

Mr. Nguyen Van Sua said that the solutions to prevent this legal circumvention have not been really effective so far and businesses still have to save themselves by restructuring as well as improving the competitiveness of their products. Products.

To manage and limit imported steel in the form of “alloy steel” from China, and control trade fraud, state management agencies need to more clearly stipulate standards for steel and galvanized steel products. …, creating favorable conditions for businesses to produce and circulate, avoiding the phenomenon of trade fraud and counterfeiting./.

Duc Dung (VNA)

Danh mục: New

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