Cheap imported steel products affect domestic firms

Import value reached over 233 million USD in 2015. Prices of colour-coated steel products imported from China are 30%-40% lower than domestic products. This has had a negative impact on Vietnamese enterprises in terms of decreases in production output, market share, revenues and labour force. In addition, inventory and production costs have increased while have prices have not risen. The surge in steel imports has also affected the country’s trade and foreign currency balance.