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US decision a boost for VN steel exporters

Oct 20th at 11:15
20-10-2012 11:15:16+07:00

US decision a boost for VN steel exporters

Vietnamese steel pipe manufacturers and domestic steel companies are not dumping products in the US market and do not receive subsidies, according to a recent decision by the US Department of Commerce.

The news is a boost for Vietnamese steel exporters, who will not be subject to extra tariffs in the US market.

The decision was a result of an anti-dumping investigation, which focused on Vietnamese firms including SeAH Steel Vina and Hong Nguyen Machinery Manufactory Company. The investigation was urged by US businesses Allied Tube and Conduit, JMC Steel Group, Wheatland Tube and the United States Steel Corporation.

The US Department of Commerce will order the release of any bond or other security and refund any cash deposits that were collected for Vietnamese steel exports after March 29, 2012. In 2011, imports of circular welded pipes from Viet Nam were valued at an estimated $50.1 million.

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