Australia’s Anti-Dumping Commission (ADC) on Monday closed an anti-dumping investigation over steel wire rod in coils imported from a Vietnamese enterprise, concluding that the sale of the goods involves no dumping in the Australian market.
ADC said that Hoa Phat Group, sued by an Australian business, implemented no dumping, according to the Vietnam Steel Association.
The commission found that the recorded dumping margin of wire rod from the Vietnamese firm stayed at 1.3 percent, below the set threshold of two percent beyond which dumping results.
The Vietnamese government has provided no monetary subsidy to the costs of electricity and raw materials utilized by local companies to produce coils of wire rod; and no special market exists for this type of product in Vietnam, ADC declared.
Hoa Phat Group willingly answered questions from the commission and provided it with sufficient information and materials which it had required since the antidumping investigation was launched in June 2017, according to the Vietnam Steel Association.
The enterprise also presented counter-arguments against the claims of the company filing a complaint to the commission, OneSteel Manufacturing Pty Ltd., which at the same time sued Indonesian and South Korean businesses for their manipulation of wire rod prices.
Hoa Phat Group is a major steel manufacturer in Vietnam and exported about 36,000 metric tons of steel in the form of coils and bars to Australia in 2017.