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Vietnam investigates Malaysian H-beam steel on suspicion of dumping

Vietnam investigates Malaysian H-beam steel on suspicion of dumping

Tuesday, August 25, 2020, 16:39 GMT+7
Vietnam investigates Malaysian H-beam steel on suspicion of dumping
A steel factory in Vietnam. Photo: T.N.N. / Tuoi Tre

Authorities in Vietnam have launched an investigation into H-beam steel originating in Malaysia on suspicion of dumping in the Vietnamese market.

The Ministry of Industry and Trade has issued a decision to investigate and apply anti-dumping measures to some H-beam steel products made in Malaysia.

The decision came after a request made by representatives of the domestic manufacturing industry.

Local steel enterprises accused that the Malaysian H-beam steels have been dumped in the Vietnamese market, causing significant damage to the domestic steel industry.

Data from the General Department of Vietnam Customs showed that the amount of Malaysia’s H-beam steel was negligible before the investigation period.

However, the imports increased sharply to 17,000 metric tons during the investigation period and to 65,000 metric tons one year after the investigation period.

This has led to negative impacts on the domestic manufacturing industry in terms of sales volume, market share, revenue, and profit.

The Ministry of Industry and Trade will review the result of the probe and implement anti-dumping measures, if necessary, to prevent further damage to the country’s manufacturing industry.

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