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The office of POSCO VST in Dong Nai Province, Vietnam. /Courtesy of POSCO Vietnam

Vietnam has officially launched an anti-dumping investigation into cold-rolled stainless steel products imported from China, Indonesia and Taiwan, nearly two years after previous anti-dumping duties on the products expired in November 2024.

The investigation follows a petition filed by domestic producers, including POSCO's local manufacturing subsidiary. Depending on the preliminary findings, provisional anti-dumping measures could be imposed even before a final determination is reached, prompting concerns among businesses involved in importing, exporting and distributing the products.

According to Vietnamese media outlets, including Báo Đầu tư, on Sunday, Vietnam's Minister of Industry and Trade issued a decision on Friday to investigate whether anti-dumping measures should be imposed on certain cold-rolled stainless steel products imported from the three countries and territories.

The investigation covers products classified under nine Harmonized System (HS) codes, including 7219.32.00 and 7220.90.90. 

The decision followed an assessment of an anti-dumping petition submitted by POSCO VST and local manufacturer Tan Viet Metal Science and Technology Co., Ltd., on behalf of Vietnam's domestic industry.

The Ministry of Industry and Trade determined that the petition submitted by the two companies fully met the requirements of the country's trade remedy regulations.

POSCO VST is a manufacturing subsidiary established after POSCO acquired a local cold-rolled stainless steel producer in 2009. It operates a plant in Dong Nai Province in southern Vietnam.

This is not the first time Vietnam has investigated cold-rolled stainless steel imports for possible dumping.

In 2013, the Ministry of Industry and Trade launched an investigation into products imported from China, Indonesia, Malaysia and Taiwan following a petition by POSCO VST and other domestic producers. Anti-dumping duties were subsequently imposed in 2014.

Following the first sunset review in 2019, the duties were extended, with company-specific rates ranging from 10.91% to 37.29%. However, the measures expired in November 2024 after a second sunset review, without any further extension.

The latest investigation covers products under the same nine HS codes as the previous measures, but excludes Malaysia, which had been subject to the earlier duties.

The investigation will proceed under a government decree issued in April last year.

The Ministry of Industry and Trade will first send sampling questionnaires to foreign companies known to produce and export the products under investigation to Vietnam, as well as to diplomatic or other representative offices in Vietnam of the countries and territories concerned.

If the number of producers, exporters or product types is too large, the authorities may use sampling to narrow the scope of the investigation.

Foreign companies that fail to respond to the sampling questionnaire within the prescribed deadline will be treated as non-cooperating interested parties.

Once the sampling process is completed, the investigating authority will send detailed questionnaires to interested parties and begin its formal written investigation.

The investigation will focus on three main issues: whether exporters from the countries and territories concerned engaged in dumping, the extent of injury to Vietnam's domestic industry, and whether there is a causal link between the alleged dumping and that injury.

In particular, the Ministry of Industry and Trade said it may impose provisional anti-dumping measures based on preliminary findings, even before reaching a final determination, if necessary to prevent dumped imports from continuing to cause material injury to domestic producers.

Before issuing its final determination, the ministry plans to examine and verify information submitted by interested parties.

It will also hold public consultations to allow the parties to exchange views directly, present relevant information and explain their positions.

                                                                                                               Jeong Ri-na