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Viet Nam Steel Association to protect local steel mill - Mr Sua-The 18th China(Guangzhou)Int’l Metal &Met
allurgy Exhibition
10/20/2016 steel expo-metal &metallurgy expo |
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Mr Nguyen Van Sua vice chairman of Viet Nam Steel Association, the association will protect the interests of local firms after Vietnamese steel exporters were accused of tax evasion in the United States. Mr Sua told the Vietnam News Agency that the association would collaborate with enterprises and State management agencies to assure that appropriate measures meet all international regulations.
Meanwhile, Sua, from the steel association, said that while the DOC had yet to release an official decision, many US entrepreneurs had ceased orders for Vietnamese CRS products, and this had caused difficulties for many domestic steel firms.
L?i Quang Trung, head of the Viet Nam Steel Corporation’s market planning department, said the companies which faced obstacles in exporting products would have to seek other means to boost sales in the local market. He said that as domestic production capacity currently exceeds local demand for steel, price competition might occur and impact on business operations of enterprises.
In the meantime, the steel association recommended its member companies sharpen their competitiveness by improving the quality of products, reducing production costs and upgrading production technology.
The authority said the US levied an anti-dumping tax rate of 199.76% and a countervailing tax rate of 256.44% on CRS imports from China last May. This came after the US probed CRS imports from China, Brazil, India, Japan, South Korea, the Netherlands, Russia and the United Kingdom in August 2015. The US companies said that since the duties were imposed, the volume of CRS from China to the US had sharply declined, while the quantity of similar products from Viet Nam to this market had significantly increased. The firms said they had sufficient evidence proving that Chinese CRS products had been exported to Viet Nam before they were shipped to the US. According to US regulations, the DOC will consider whether to investigate the case within 45 days and issue a final decision within 300 days after collecting all testimony.
-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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