Thailand launched an investigation into Vietnam steel products

According to the latest report of Vietnamese media on February 27, Thai authorities announced a notice that they decided to impose 6.97-51.61% of the anti-dumping fee on the CIF of imported steel products under investigation in Vietnam, so as to prevent the threat of causing great losses to Thai manufacturing industry. In addition, the relevant Thai authorities also clearly pointed out that Vietnam's relevant steel export enterprises should consider participating in various verification plans to ensure the rights and interests of enterprises in the verification process in Thailand.

According to the data, the development of steel industry in Thailand is not perfect. There is only one blast furnace ironmaking enterprise, and the rest is electric furnace steelmaking plant, which mainly produces billets. However, due to the close economic exchanges between Thailand and Vietnam in the field of auto parts, Thailand has also opened its market to Vietnam's steel production capacity. However, Vietnam's steel export is having an impact on Thailand's steel manufacturing.

In recent years, in order to further develop its own infrastructure industry to stimulate the economy, Vietnam is also expanding its own steel production capacity. Vietnam needs to import nearly 17 million tons of iron ore, about 5 million tons of scrap steel and about 5 million tons of hot-rolled steel coils in 2020, according to the people's daily. Vietnam's steel production is expected to maintain a small growth momentum of 6-8%. According to the data, Vietnam's steel exports increased by 44.8% to US $4.6 billion in 2018.

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