Photo: Hoa Phat Group

The Ministry of Industry and Trade has issued Decision No.1704/QD-BCT dated July 5 regarding the investigation and application of anti-dumping measures against HRC products from Malaysia, Thailand, and China (Case No.AD17).

The probe began with a dossier for an investigation request to apply anti-dumping measures filed by an industry representative on August 9, 2022.

The Vietnamese industry believes that HRC products from Malaysia, Thailand, and China are being dumped in the domestic market, and that this behaviour is the principal impediment to the development of Vietnam's prestressed steel cable industry.

Hoa Phat Group (HPG) is currently the only Vietnamese company capable of producing HRC and prestressed steel cables, thereby reducing the nation's reliance on imported steel sources. In the first half of 2023, HPG produced 2.9 million tonnes of steel billets and HRC, a decline of 27 per cent from the first half of 2022.

HRCs are steel cables that are braided for use as electrical lines and to bind together concrete blocks for construction projects.