Posted on 03 Jun 2019
Vietnam has imposed safeguard measures on billet from Malaysia and Kazakhstan, Kallanish notes. The 17.3% duty is effective 13 June till 21 March 2020 and will lapse to 0% thereafter if not extended.
Imports of billet from these two countries were previously exempted from the safeguard duties when Vietnamese safeguard measures were imposed on billet and long products in July 2016. However, in a mid-term review of the measures, Vietnam’s Ministry of Industry & Trade determined that imports from Malaysia and Kazakhstan exceeded the 3% threshold of total billet imports.
The Ministry has therefore removed the two countries from the list of countries exempted from the application of safeguard measures on billet and takes effect 15 days after the 29 May decision. The exclusion list for countries from the safeguard measures for long products remains the same at that in 2016.
The new regulation will prevent Malaysian billet from being exported to Vietnam, a local trader says Friday. Blast furnace billet for July shipment from Malaysia was offered at $460/t cfr Vietnam during 20 May week. The trader said that no deals transpired. The safeguard would deter any bookings, another Vietnamese trader says.
