Dump Watch! Vietnam Puts Tariffs on Chinese, Indonesian Stainless Steel Imports

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Vietnam’s Ministry of Industry and Trade has announced it will impose anti-dumping duties on stainless steel imports after an investigation conducted at the request of local producers. The duties will be imposed specifically on cold rolled stainless steel products.

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The decision will take effect on October 5 leveling taxes of 3.07-39.29 percent on exporters of cold rolled stainless steel products in China, Indonesia, Malaysia and Taiwan, according to a statement on the ministry’s website.

These are Vietnam’s first tariffs on stainless steel, MetalMiner remains ever-vigilant and Always On Dump Watch.

With a decline of 4.5 percent to INR 1,150 ($18.90) per kilogram on Thursday, September 11, the cash price of primary Indian nickel recorded the biggest decline of the day. At $18,625 per metric ton, the 3-month price of nickel on the LME was down 3.6 percent from the previous market day. A $680.00 decline in the nickel spot price on the LME left the price at $18,545 per metric ton.

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,354) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,654) per metric ton for the fifth day in a row.

The Allegheny Ludlum 316 stainless surcharge remained essentially flat at $1.26 per pound. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,241) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,675) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,626) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,675) per metric ton.

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