Many domestic steel companies face challenges, including a massive influx of low-cost hot-rolled coil products imported from overseas, including China and India. (Illustration)

Accordingly, the temporary anti-dumping duties on imported products from China will range from 19.38% to 27.83%, effective from March 8.

Meanwhile, the investigation agency confirmed the signs of dumping practices for the imported goods from India. However, as the import volume was insignificant (below 3%), these products were excluded from the temporary anti-dumping duty measures.

Last year, the MoIT launched an anti-dumping investigation into certain hot-rolled coil products originating from India and China for the period from July 1, 2023, to June 30, 2024.

The investigation was initiated following a request from two domestic manufacturers Hoa Phat Dung Quat Steel Joint Stock Company and Hung Nghiep Formosa Ha Tinh Steel Company.

Statistics show, imports of hot-rolled coil products from China reached 12.6 million tonnes last year, marking an increase of over 33% compared to 2023. Notably, even after the MoIT initiated its investigation in July 2024, imports from China continued to rise significantly.

As a result, the MoIT decided to impose a temporary anti-dumping duties to prevent the rapid surge in HRC imports, which could cause serious damage to the domestic steel industry in the near future.

According to regulations, authorities will continue working with relevant parties to collect and verify information before making a final determination.