The two companies are "prime" aspiring exclusive stainless steel market

► Stainless steel import price significantly lower than the price of the same products produced in the country ...

 

More than 20 companies manufacture products from stainless steel, representative offices of enterprises in the world stainless steel production in Vietnam simultaneously oppose the proposed Posco VST and Inox Hoa Binh.
Two companies have submitted an application to the Ministry of Trade and Industry investigation requirements and apply anti-dumping measures on stainless steel products imported into Vietnam.

Competition Administration Department (Ministry of Industry and Trade) said, on 5/6/2013 Department received records Posco VST and Company Inox Hoa Binh (Peace Inox) requires the investigation and application the anti-dumping measures on stainless steel (inox) cold rolled into Vietnam from China, Taiwan, Malaysia and Indonesia.


As a rule, within 60 days from the date of receipt of complete and valid application, the Minister of Industry and Trade will decide whether or not to initiate this investigation.

Reasons for Posco VST and Inox Hoa Binh, the two companies account for about 80% market share in Vietnam stainless steel made, as the price of stainless steel imported from China, Malaysia, Indonesia and Taiwan were lower by 25% compared for the same products produced in the country, even at the price lower than their market.

Notably, within 3 years, from 2009 to 2011, imported stainless steel products in Vietnam has risen to 34%.

Thus, both the businesses proposed anti-dumping tariffs average 20% for stainless steel products imported from China, Taiwan, Malaysia and Indonesia.

However, after the proposal of the two companies is sent to the Ministry of Industry and Trade, more than 20 enterprises producing stainless steel products, representative offices of enterprises in the world stainless steel production in Vietnam bulk up known that, if the imposition of anti-dumping petitions Posco VST and Inox Hoa Binh, the manufacturers of stainless steel products will be pushed into "the same", and the risk of Posco VST and exclusive Inox Hoa Binh Stainless steel market in Vietnam is "exist".

More than 20 businesses in the category are importing stainless steel, hot-rolled, cold-rolled from Finland, Germany, Brazil, Taiwan, Japan, India, China, Malaysia, Indonesia ..., serving residential, industrial, national security for the domestic market and export.

Representatives of the firms listed, if applicable anti-dumping measures, "the cost of the final product increases due to rising raw material prices, which directly impacts the price", "prices of industrial manufacturing, oil and gas, food industry, pharmaceuticals, medical ... face the risk of increased interest on investments. "

"This is a proposal aimed monopoly, market manipulation", a business leader manufacturer of stainless steel products said.

"Implications largest if applicable anti-dumping measures would lead to oligopoly in the production of cold-rolled stainless steel material produced by cold rolled stainless steel is not stainless steel, hot-rolled products of being in Vietnam enterprises producing goods for export at risk of significant losses due to delivery framework contract with big production from foreign imports, "representatives of the business concerned, and said "leadership is taking signatures of producers to send dispatches to week will propose to the Ministry of Industry and Commerce, oppose the requirements imposed anti-dumping Posco VST and Peace Inox".