Posted on 03 Nov 2011
It’s reported that Viet Nam Steel Association (VSA) has appealed to Ministry of Finance to impose 10% of import duties on the imports of stainless cold rolled coil (CRC),aiming to protect the local steel industry.
According to statistics, the country imported 140 thousand tons of stainless steel from China and Taiwan. The imports of stainless steel were sold with much lower prices than that offered by domestic steel mills.
VSA indicated that the country was capable of producing 350 thousand tons of cold rolled (CR) steel and stainless steel pipe per year, which can meet the domestic needs.
In Asian countries, it’s known that Philippines, Indonesia and Thailand have imposed around 3%~7.5% of import duties on steel imports, Vietnam is the only one country offering the tax exemption.
