Vietnam to appeal against Chinese steel dumping

Unreasonably low prices of Chinese steel have posed great competition to the domestic steel industry in Vietnam. Excess supply has led China to seek buyers from outside the country. The amount of imported Chinese steel has reached 41.1% of total steel imports as of August. These products were dumped at prices 22.7% below market value. The Vietnamese steel industry’s act of appeal is an attempt to maintain a fair market and healthy competition.