The Trade Defense Authority warned of a surge in imports of hot-rolled steel coils (HRC) from China, particularly products wider than 1,880mm. In the first half of 2025, HRC imports reached nearly 650,000 tons, up 15 times year-on-year, with June alone accounting for 215,000 tons. The falling import price of wide HRC has led to an estimated budget loss of about $90 million. The Ministry of Industry and Trade officially imposed temporary anti-dumping duties on certain steel products from China and India from July 2025. However, wide HRC remains a concern for domestic firms like Hoa Phat. Despite an increase in revenue in Q2 2025, the company has had to lower HRC prices due to pressure from imported competition. Steel industry experts emphasize the risk of circumvention of tariffs from China, affecting domestic production and potentially leading to trade tensions.
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