Vietnam Enforces Anti-Dumping Measures on Prestressed Steel Wire Ropes
On January 14, 2025, the Ministry of Industry and Trade of Vietnam issued an affirmative final ruling on an anti-dumping investigation concerning prestressed steel wire rope products originating from Malaysia, Thailand, and China. The decision follows an investigation that began in response to concerns raised by domestic steel producers about unfair pricing practices from foreign companies.
The ruling imposes anti-dumping duties on the affected products, which range from 9.79% to 28%, depending on the country of origin. This measure is a crucial step to address the competitive imbalance created by the import of these products at prices below fair market value, potentially harming the local steel industry in Vietnam.
Duty Rates by Country of Origin
• Malaysia: The anti-dumping duties on Malaysian imports will range between 9.79% and 12.06%, depending on the specific company involved.
• Thailand: A uniform duty of 11% will apply to Thai exporters of prestressed steel wire ropes.
• China: Chinese companies will face a broader range of duties, with rates set between 10.48% and 28%, depending on the exporter.
These duties will apply to products classified under HS codes 7312.10.91 and 7312.10.99, which cover various types of prestressed steel wire ropes commonly used in the construction, infrastructure, and engineering sectors.
The Anti-Dumping Investigation and Its Outcomes
The investigation was triggered by complaints from Vietnam's domestic wire rope manufacturers, who argued that foreign products were being sold at unfairly low prices, often below the cost of production. This pricing practice, known as dumping, can undermine local producers and disrupt the domestic market.
The Vietnamese government, after thorough examination, determined that such practices were detrimental to the local industry. As a result, the anti-dumping duties were imposed as a corrective measure to restore fair competition and protect Vietnam's manufacturers from unfair trade.
Duration of the Anti-Dumping Measure
The anti-dumping duties will remain in effect for a period of five years starting from January 15, 2025, unless further investigations or reviews prompt changes to the duty rates. This timeline ensures that Vietnam’s domestic market has a level playing field and allows local manufacturers to recover from the negative impact of dumped imports.
