India has initiated an anti dumping probe into Vietnamese steel at the request of the Indian Steel Association, the Business Standard is reporting. The period under investigation will be from January 1, 2023 to March 31, 2024.
India is now another in a growing list of countries with trade remedies investigation into Vietnamese steel–South Korea started an investigation back in June and the EU announced it had received an official complaint back in July.
Of note, Vietnam has launched its own anti-dumping investigation into steel imports from China. This is on the back of a flood of cheap steel into the country. As of the end of June, Chinese iron and steel imports into Vietnam totalled US$3.7 billion with a further US$2.1 billion worth of iron and steel products.
That said, Vietnam also exported about US$4.8 billion worth of iron and steel and US$2.1 billion worth of iron and steel products.
Trade remedies against Vietnam’s exports have increased significantly in recent years in large part due to Chinese firms using Vietnam as a thoroughfare to avoid tariffs on Chinese exports in other parts of the world. Electric bikes and solar panels, for example.
All of this is to say that Vietnam’s steel industry is in somewhat of a state of flux at the moment.
See also: Vietnam News: Trade Remedies