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Update news Chinese steel
The largest steelmaker in Vietnam is considering a hold on its third blast furnace facility due to concerns with China’s steel presence in the country.
The market share of domestic companies witnessed a decrease during the 2018 - 2019 period and currently reaches 42.8%, indicating foreign companies are selling below their home markets prices.
Global steel capacity is forecast to be excessive so steel has been pouring into the Southeast Asia region.
VietNamNet Bridge – Given the massive imports of steel products from China due to a zero tariff, the Vietnam Steel Association has written to the China Steel Association warning of petitioning anti-dumping duties on steel products
VietNamNet Bridge – Vietnamese steel makers continue to face difficulties in production and business because of fierce competition with Chinese steel products and over supply.
VietNamNet Bridge – The Vietnam Steel Association (VSA) has petitioned management agencies to soon arrive at solutions of monitoring products labeled as alloy steel imported from China as it contains a small portion of boron to escape the tax.