Recently, Vietnam’s Ministry of Industry and Trade issued Notice No. 2822/QD-BCT, announcing a five-year extension of anti-dumping duties on color-coated steel originating from China and South Korea until October 2029. For 24 import-export companies from China and South Korea, tax rates will range between 2.56% and 34.27%.
Minimal Impact on China’s Exports
Looking at recent data, the impact of this extension on China’s exports remains minor. In 2023, China exported a total of 6.3887 million tons of coated steel, a 17.9% increase year-on-year. Exports to Vietnam accounted for around 199,700 tons, just 3.1% of China’s total exports. Since 2019, exports of color-coated steel to Vietnam have steadily decreased, reflecting a shift in trade distribution.
Regional Export Landscape
China’s coated steel exports are primarily concentrated in Asia, with key markets including the Philippines, Thailand, and Indonesia, accounting for approximately 60% of China’s coated steel exports in recent years.
Future Considerations
While Vietnam’s anti-dumping measures have had a limited impact, there’s potential for other Southeast Asian countries to follow suit, possibly affecting China’s steel trade in the region. Additionally, Vietnam’s investigation on Chinese hot-rolled products is expected to conclude in November, an outcome that could influence broader market dynamics.
Stay updated with LangZo Steel for further insights on anti-dumping cases and the global steel trade landscape.
