Hot rolled coil products of Vietnam’s Hofa Steel Company are not subject to EU anti-dumping duties

According to a recent report by the European SA517 Grade B steel Commission (EC), the hot-rolled products of Vietnam's Wafa Steel Company will not be subject to the temporary anti-dumping duties imposed by the EU on some hot-rolled products imported from Egypt, India, Japan, and Vietnam. The products excluded from this survey include stainless steel or oriented electrical steel; Tool steel and special high hardness tool steel; Non rolled, non embossed steel with a thickness greater than 10 millimeters and a width equal to or greater than 600 millimeters; Non rolled, non embossed steel with a thickness of 4.75 millimeters or more but not exceeding 10 millimeters and a width of 2050 millimeters or more. According to Hefa Steel Company, this result is due to various factors, including the use of modern production technology and optimized manufacturing processes, which make its price competitive. In addition, the company is fully cooperating with EU institutions in the EU investigation and proactively providing all necessary data.

On August 8, 2024, the European SA517 Grade B steel Commission (EC) announced the initiation of anti-dumping investigations into certain hot coil products imported into the EU from Egypt, India, Japan, and Vietnam. The anti-dumping investigation period for this case is from April 1, 2023 to March 31, 2024. The damage investigation period is from January 1, 2021 to March 31, 2024. At present, Vietnamese exporters of hot-rolled steel coils, such as Formosa Steel, are required to pay a tax rate of 12.1% when exporting to the European Union.

This exemption from anti-dumping duties reflects the legal expertise of Hefa Steel Company in handling international trade regulations, and also increases opportunities for downstream enterprises to use and export hot coil products to the EU without worrying about issues such as origin or raw materials. Currently, Hofa Steel Company is the largest steel producer in Vietnam and Southeast Asia. By the end of 2025, the company's steel production capacity will reach 15 million tons per year, mainly focusing on the SA517 Grade B steel production of high-quality steel for hot-rolled coils and mechanical engineering industries. In addition, Hofa also has the largest market share in Vietnam and has exported various types of steel to 40 countries and regions.