Product-related：hot-dip galvanized steel pipes,Galvanized Steel Sheet,Galvanized Steel Coil
Key events
On February 21, 2025, Vietnam's Ministry of Industry and Trade issued Decision No. 460/QD-BCT to impose provisional anti-dumping duties on certain hot-rolled steel products originating in India and China. The document stated that the decision will be implemented for China and not for India for the time being. Accordingly, the provisional anti-dumping duty rate applied to the Chinese products under investigation ranged from 19.38% to 27.83%. The period is valid until 15 days after the date of publication (March 7, 2025). Provisional anti-dumping duties are applicable for a period of 120 days from the effective date (unless extended, modified or cancelled in accordance with the law).
Core view: According to the data of the Iron and Steel Federation, the total amount of Chinese steel exports to Vietnam in 2024 will reach 12.766 million tons, which is the largest area of China's steel exports, of which the total amount of steel products exported to Vietnam is about 9.67 million tons, accounting for 75.7% of China's total exports to Vietnam, and the products involved in the case in Vietnam account for 24% of China's total exports. Vietnam is China's main steel export market, so the temporary anti-dumping duty will have a greater impact on China's HRC exports as a whole.
Analysis of China's export of hot-rolled coils to Vietnam.
Vietnam will continue to be China's largest steel exporter in 2024
In recent years, China's steel exports have been strong, with a significant year-on-year increase. Judging from China's annual steel export data in 2024, China's cumulative steel exports in 2024 will reach 111.06 million tons, a record high. In 2024, the top 10 countries in China's steel exports include Vietnam, South Korea, the United Arab Emirates, Thailand, the Philippines, Indonesia, Saudi Arabia, Turkey, Brazil and India. CR10 accounted for 51.4%, of which 11.5% was exported to Vietnam.
In 2024, plates will account for 75.7% of the total steel exports to Vietnam
In terms of specific varieties, in 2024, the total amount of alloy and non-alloy hot-rolled products of China's exports to Vietnam will be 9.67 million tons, including the following anti-dumping varieties: other alloy steel flat rolled products, with a width of < 600mm (tax code 7226), other alloy steel flat rolled products, iron or non-alloy steel flat rolled products with a width of ≥ 600mm (tax code 7225) and a width of <600mm, but not coated, coated or coated (tax code 7211), Iron or non-alloy steel flat rolled products with a width of ≥ 600mm, hot-rolled but uncoated, coated or coated (tax code 7208) will be exported in 2024 with 6.8, 39.4, 18.2 and 9.026 million tons, respectively, accounting for 23%, 7%, 30% and 27% of China's total exports.
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