Vietnam begins anti-dumping probe against Chinese aluminum
Vietnam begins anti-dumping probe against Chinese aluminum
Vietnam has begun anti-dumping investigations against aluminum products imported from China.
The Ministry of Industry and Trade has commenced the investigation, with the period for assessing damage being January-December 2018.
Local manufacturers had earlier complained that aluminum imports from China had caused damage to domestic production, resulting in falling profits, squeezed prices and increased inventories.
Four of them demanded an anti-dumping investigation for a period of 18 months counting back from January 2019 into aluminum and non-alloy aluminum imports from China, alleging the dumping margin was at 35.58 percent.
They also suggested an equivalent anti-dumping duty.
According to the Foreign Trade Management Law, a temporary anti-dumping tariff can be imposed retrospectively for up to 90 days from the date it starts applying.
The Department of Trade Protection has warned that organizations and individuals in the process of signing contracts related to the import, distribution and use of the investigated goods should anticipate the possibility of an anti-dumping tax with retrospective effect.
Last year so much cheap Chinese aluminum poured into Vietnam that the customs department made a written request to tighten import of this item and check for fraudulent import declarations meant to avoid tax.
Official data shows that China accounted for 30 percent of Vietnam’s aluminum imports, a rate that has tripled in the last two years. Imports from other markets known for high-quality aluminum such as Germany and Taiwan account for only 2 percent.
