Vietnamese steel faces anti-dumping investigation in Australia
An Australian firm has accused Vietnamese manufacturers of manipulating market prices. Australia’s Anti-Dumping Commission (ADC) has initiated an anti-dumping investigation into steel rods imported from Indonesia, South Korea and Vietnam.
The investigation was launched following a complaint lodged by OneSteel Manufacturing Pty Ltd, a manufacturer of steel coil in Australia.
OneSteel said that that the goods are being exported to Australia at prices less than their normal value and that dumping has damaged the Australian industry through loss of sales, market share and profits.
The products include hot rolled rods in coils that are not subject to export tax in Australia at present.
OneSteel alleged that the dumping margin on products from Vietnam is at least 30.6 percent. The company said that the price of these products in Vietnam should not be used to calculate their global market value.
Steel products from Indonesia, Taiwan and Turkey have also been subject to anti-dumping investigations in Australia, and both Indonesia and Turkey were slapped with anti-dumping taxes in 2015 for a year, while the same products from China were hit with a tariff in April 2016.