China steel’s products massive overflow into Vietnam market.
Below the General Department of Vietnam Customs ‘s statistic, during the first 8 months of this year,
China import’s goods into Vietnam has sharp increased corresponding period of preceding year, especially steel products
Till the end of August, 2015, imported steel output’s national is 9.91 million tons, up to 41.1% in volume. Among, imported steels into Vietnam during the first 8 months of this year from China is about 6 million tons, sharp increasing 79.4% than corresponding period of preceding year.
Below Mr Nguyen Van Sua - Vice President of Vietnam Steel Association, although steel market has dramatical increased recent years but we still have to import the huge finished products and half – finished products.
China is the world’s largest consumption and production steel nation, make up about 50% of global steel output. Because China’s economic situation has the not good signs - the huge redundancy steel output in last time, so they have to find many ways to improve exporting. The adjust the RMB exchange rate makes the price of nation steel’s output decrease. This makes China’s steel output massive overflow into Vietnam, and small influence to Vietnam domestic market.
Remarkable, among China imported steel, because they have huge amount which are sell under the name of “ alloy steel” include Bo, Cr,… element so when they are imported into Vietnam, they do not have suffer the import tax. It makes the purchase price lower than the Vietnam domestic’s price. After all, it makes Vietnam domestic’s market face more and more difficulties.
Follow Mr Nguyen Van Sua – Vice President of Vietnam Steel Association, the best method for this issue is improve the competition of domestic product; in there the most competition feature is price. Besides, we need to take advantage of commercial protection method to limit the dispute, find the stable output for Vietnam steel products.