This decision by the Ministry of Industry and Trade was made after a complaint from 4 Vietnamese steel enterprises. Anti-dumping laws, also known as trade defense measures, are valid legal tools that are quite common in international trade. However, the domestic market can take advantage of this tool if not used properly.
The anti-dumping tax for billet and steel products took effect from the beginning of last week. But one week prior, speculation, goods hoarding and steel prices rose sharply in the market. Steel consuming sectors such as real estate are worried about this situation.
Along with transparent information on steel prices, experts also said that the Ministry of Trade should watch the steel market price to give out adjustments while imposing the anti-dumping law. In the first 2 months of this year, steel production has exceeded consumption. The Ministry of Industry and Trade said that the goods hoarding and the increase in steel price is only short term, and steel prices will soon stabilise.
