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On May 14, 2024, U.S. President Joe Biden announced an increase in tariffs on $18 billion worth of imports from China, including electric vehicles (EVs), solar panels, semiconductors, iron and steel, in a bid to protect American industries. The tariff increase is expected to significantly impact Chinese exporters, prompting U.S. importers to look for cheaper alternative sources, such as Vietnam.New US tariffs on Chinese imports open doors for Vietnam's booming export marketOn May 22, 2024, the US Trade Representative (USTR) announced proposed amendments to tariffs on Chinese imports, effective from August 1, 2024.ImportCurrent rateNew rateElectric vehicles (EVs)25%100%Semiconductors25%50%Solar cells25%50%Syringes and needles0%50%Some steel and aluminium products*鈥�7.50%25%Lithium-ion EV batteries7.50%25%Lithium-ion non-EV batteries*7.50%25%Battery parts*7.50%25%Some personal protective equipment (PPE)*鈥�7.50%25%Rubber medical and surgical gloves*7.50%25%Natural graphite and permanent magnets0%25%Other critical minerals0%25%Ship-to-shore cranes0%25%The US has imposed additional Section 301 tariffs on these products, including steel and aluminum products, electric vehicles, batteries and semiconductors. These products will face significant tax increases, such as for electric vehicles, quadrupling from 25% to 100%. Other categories such as steel and aluminum products were previously not subject to tax or only 7.5% but will soon be subject to import tax of up to 25%.US proposes steep tariff hikes on Chinese imports, effective August 1, 2024Thus, China is currently subject to both Section 232 and Section 301 tariffs. This means that steel exports from China to the US are subject to a tax rate of up to 50%. Meanwhile, steel from Vietnam is only subject to a 25% tax rate under Section 232. This difference creates a clear competitive advantage for the Vietnamese steel industry in the US market.In response to the increased tariffs on Chinese steel, U.S. steel importers are actively looking for alternative sources of supply and Vietnam has emerged as an ideal choice with many of the following advantages:High-quality productsVietnamese steel is produced according to international standards ASTM, EN, JIS,..., achieving certifications for quality and environmental management systems such as ISO 9001, ISO 14001, OHSAS 18001,... These certifications not only confirm product quality but also ensure a safe and environmentally friendly production process.Large steel mills in Vietnam such as Hoa Phat, Hoa Sen, Formosa,... use modern production lines and advanced technology from the world's leading metallurgical brands like Danieli, Tenova, ... Currently, Vietnam has become self-sufficient in raw material input (HRC), so 100% of products can prove their origin, meet strict international standards, ensuring reliability and stability for construction and industrial projects in the US.Vietnamese steel ensures high quality and reliability for US construction and industrial projectsCompetitive priceWith a 25% tariff under Section 232, Vietnamese steel has a more competitive price than Chinese steel in the current context. This is also the reason why more and more American importers are contacting and looking for Vietnamese steel sources to optimize costs.Favorable geographical locationVietnam is strategically located in Asia, near the world's  major maritime routes, including routes connecting Southeast Asia with North America and Europe. This helps reduce transportation costs and delivery times, a crucial factor in maintaining a stable supply chain.The shipping time from Vietnam to major U.S. ports like Los Angeles, Long Beach, New York, Savannah,... only takes about 30-45 days depending on the specific conditions and schedule of each shipment.Compared to other countries in the region, transit time from Vietnam to the US is equivalent or even shorter due to the development of direct maritime routes and modern port infrastructure in Vietnam. This helps optimize the supply chain and ensure stable supply for U.S. importers.Vietnam's strategic location and efficient maritime routes ensure faster and cost-effective delivery to major US portsStable supplyVietnam has many modern steel plants, ensuring continuous supply capability and meeting large demands from international partners. According to the Vietnam Steel Association (VSA), Vietnamese crude steel output in 2023 reached about 24 million tons, up 8% compared to 2022. Construction steel output reached 11 million tons, up 9% over the previous year. It is forecasted that in 2024, finished steel production could reach 29 million tons, a 6.7% increase compared to 2023. In the first three months of 2024, Vietnam's steel exports reached 3.23 million tons, valued at $2.39 billion, a 40.6% increase in volume and 38.9% increase in value compared to the same period in 2023, with major export markets including the U.S., Italy, and Cambodia.The increase in tariffs on Chinese steel not only impacts trade relations between the US and China but also creates significant changes in the global steel market, opening up opportunities for steel manufacturers in other countries, especially Vietnam. Currently, Vietnam is one of the world's largest steel producers with crude steel output ranking 12th globally. In particular, AG真人游戏 Steel has many years of experience in exporting steel to the US, knowledgeable about products, markets, tariff policies, logistics,... helping importers significantly optimize the time and effort of purchasing Vietnamese steel. Contact AG真人游戏 Steel via Email: [email protected] or Whatsapp: +84 769 112 358 to receive detailed advice from our team of experts!

Recently, the international shipping situation has encountered many major fluctuations due to crises in the Red Sea and trade tensions between the US and China. These attacks have severely impacted international shipping, particularly in key routes connecting the Indian Ocean to the Suez Canal and the Mediterranean Sea. Additionally, China's accelerated export efforts to the US ahead of new tariffs have exacerbated the demand for empty containers, further driving up global shipping costs.Global shipping is under siege as crises in the Red Sea and trade tensions between the US and China send costs soaringImpact of rising container shipping costs due to red sea instabilitySince mid-November 2023, the Houthi group's have attacked on commercial vessels in the Red Sea, especially those they believed were linked to Israel. However, the reality is that they attack without distinction any ships passing through the area. Major shipping lines, such as Maersk, have had to reroute their ships via the Cape of Good Hope, significantly increasing travel time and fuel costs. For instance, the journey from Singapore to Rotterdam now takes approximately 36 days via South Africa, compared to 26 days through the Suez Canal.This diversion adds about 10-15 days to each trip and causes fuel costs to increase significantly. Shipping companies have had to increase freight rates to cover costs, resulting in freight rates from China to Europe rising to $7,000 per 40-foot container, five times higher than pre-COVID-19 levels. Freight rates from Asia to Northern Europe increased to more than 4,000 USD/40-foot container and 5,175 USD to the Mediterranean. For routes from Asia to the US, with rates reaching up to 3,900 USD/container to the East Coast and more than 2,700 USD/container to the West Coast.Houthi attacks in the Red Sea force shipping reroutes, skyrocketing freight rates to unprecedented levelsThese disruptions not only affect the shipping industry but also risk causing global inflation as businesses adjust their prices to account for higher transportation costs. The attacks have also increased insurance costs for ships passing through the Red Sea by 10 times compared to before, adding further financial strain on shipping companies and consumers.Impact on Vietnamese steel exportsThe attacks have reduced the flow of steel and aluminum to Europe via the Suez Canal by about 775,000 tons per month, impacting the global steel supply chain and increasing transportation costs. Rerouting through the Cape of Good Hope adds 10-15 days to shipping times and transportation costs from Vietnam to European ports have nearly tripled, from under $2,000 per 40-foot container in December 2023 to over $5,000 in January 2024.Houthi attacks choke steel flow to Europe, tripling Vietnam-to-Europe shipping costsVietnamese advantage in steel exports amid rising shipping costsFaced with escalating tensions, many countries such as the US and EU countries have deployed military operations to protect commercial ships and maintain maritime security in this area. However, this deployment cannot completely prevent attacks and experts say the situation could continue for a long time without a lasting political solution in Yemen.Despite these challenges, Vietnam's steel exports maintain a competitive edge due to several factors. Firstly, Vietnam's strategic location in Southeast Asia provides proximity to major international shipping routes, reducing shipping time and costs to major markets like Asia, Europe, and the Americas.Amid escalating tensions, Vietnamese strategic location keeps steel exports competitive despite global shipping disruptionsSecondly, Vietnam boasts a well-developed logistics system, featuring major ports such as Hai Phong, Cat Lai, and Da Nang, offering diverse transportation services including container and bulk shipping. Additionally, the abundance of empty containers in Vietnam helps minimize waiting times and rental costs, optimizing export-import processes. These factors enable customers importing steel from Vietnam to benefit from lower shipping costs and more efficient services compared to other countries with limited container availability.The shipping crisis in the Red Sea and trade tensions between the US and China have increased shipping costs and disrupted global supply chains. However, customers importing Vietnamese still have advantages thanks to its favorable geographical location, developed logistics system and abundant empty containers. These strengths help reduce costs and shipping times, enhancing the competitiveness of Vietnamese steel in the global market, especially during these volatile times. Follow AG真人游戏 Steel to get the latest updates on the Vietnamese and global steel industry!

In the first 4 months of 2024, global crude steel production reached 625.4 million tons, down 0.9% over the same period in 2023. Of which, Vietnam's crude steel production reached 7.15 million tons, up 19%, exports 903,000 tons, up 74% over the same period in 2023.In April, Viet Nam exported more than 1.1 million tons of iron and steel of all kinds, +0.9% in volume and +0.04% in turnover, earning 835.14 million USD, average price 752.9 USD/ton. Some key finished steel products include construction steel, HRC, cold rolled steel, galvanized steel, color-coated steel and steel pipes. In addition, mills also promote the production of prime wire rod to replace imports from China and enhance exports to major markets.Vietnamese iron and steel exports thrive, bolstered by key productsVietnamese HRC sales in April reached 491,796 million tons, of which exports reached 145,000 tons, down nearly 50% compared to the same period in 2023. This is the result of the fluctuations in the global HRC market, impacting domestic market conditions. As of mid-May, the average HRC price in Vietnam was 542 USD/ton, down 33 USD/ton compared to March and significantly reduced compared to the beginning of 2023. Currently, Vietnam has 2 large HRC-producing plants: Hoa Phat and Formosa. Despite economic challenges, these mills have maintained stable production and sales, even experiencing growth compared to the same period last year. Specifically, in April 2024, Hoa Phat consumed 252,000 tons of HRC steel, an increase of 5.4% y/y.In the first 4 months of 2024, Vietnam produced over 9.36 million tons of finished steel products of all kinds, +5.7% y/y. Consumption reached 9.35 million tons, +5.5% y/y, exports reached 2.95 million tons, +28.5% y/y.The US is still the largest consumer market for Vietnamese iron and steel, reaching 563,990 tons, equivalent to 496.38 million USD, average price 880 USD/ton, +129.3% in volume, +156.6% in turnover and +11.9% in price compared to the same year last year.Italy ranked second with 595,513 tons, equivalent to $375.92 million USD, average price 631.3 million USD/ton, +23.3% in volume, +7.3% in turnover and -13% in price compared to the first 4 months of 2023. Belgium follows with a 7.6% share of the total volume at 328,782 tons, average price 774.2 USD/ton, +117% in volume, +89.9% in turnover.US remains top buyer of Vietnamese iron & steel, Italy follows closelyIn general, Vietnamese iron and steel exports to major markets in the first 4 months of the year increased sharply in both volume and turnover compared to the same period in 2023.Above are some bright spots about the Vietnamese steel export situation in April and the first 4 months of 2024. Hopefully, the sharing from AG真人游戏 Steel has helped importers better understand the Vietnamese steel market to make the most appropriate purchasing decisions. For any inquiries or consultation needs regarding the import of Vietnamese steel, please contact AG真人游戏 Steel via Whatsapp: +84 769 112 358 or Email: [email protected] for 24/7 support.

By the end of 2023, the United States had investigated 59 trade defense cases against Vietnamese exports, accounting for nearly 25% of the total number of foreign cases investigating Vietnamese exports. In particular, the United States initiated an investigation and made official conclusions regarding all types of iron and steel. Importers can refer to the full and latest details in the article by AG真人游戏 Steel.US investigated 59 trade cases on Vietnamese exports, mainly iron and steelU.S. investigation on anti-circumvention of Vietnamese round stainless steel wire rodOn February 1, 2022, the United States published a gazette to initiate an investigation into anti-dumping tax evasion on round stainless steel wire rod imported from Vietnam due to allegations of evasion of trade defense taxes being applied to Korea. On May 26, 2023, the United States published its final conclusion, according to which Vietnam did not evade taxes.U.S. Concluded Vietnam Did Not Evade Anti-Dumping Taxes on round stainless steel wire rodU.S. investigation on anti-circumvention of of Vietnamese steel pipe productsOn August 4, 2022, the United States published a gazette to initiate an investigation into anti-dumping and anti-subsidy duty evasion on a number of steel pipe products imported from Vietnam due to allegations of trade defense tax evasion being applied to China, Taiwan, South Korea, and India. On August 9, 2023, the United States announced its final conclusion, concluding circular welded carbon steel pipes and circular welded non-alloy steel pipe imported from Vietnam did not evade tax being applied to Taiwan-China due to not using HRS originating from Taiwan-China.For the remaining steel pipe products, on November 9, 2023, the United States published its final conclusions in the Official Gazette, stating that Vietnamese businesses have evaded anti-dumping and anti-subsidy taxes that the United States was applying to China, Taiwan (for some HS codes), Korea and India. However, the United States allows Vietnamese exporters to participate in the self-certification mechanism not to use HRS originating from the above accused countries to be exempted from measures (except for non-cooperative enterprises, providing complete information during the investigation).Vietnamese steel pipe products faced US trade duty evasion allegationsU.S. investigation on anti-circumvention of stainless steel plate and stripOn May 15, 2020, the United States published a gazette initiating an investigation into anti-dumping and anti-subsidy tax evasion on stainless steel plates and strips imported from Vietnam due to allegations of defensive tax evasion being applied to China. On March 29, 2023, the United States issued the final conclusion of the case, accordingly, stating that stainless steel plate and strip products imported from Vietnam used raw materials of Chinese stainless steel. However, the United States allows Vietnamese exporters to participate in the self-certification mechanism to be exempt from measures (except for non-cooperative enterprises, providing complete information during the investigation).The US investigated anti-dumping, anti-subsidy evasion on Vietnam stainless steelAG真人游戏 Steel - consulting on policies and regulations for exporting Vietnamese steel to the United StatesAG真人游戏 Steel is a unit specializing in providing solutions for importing Vietnamese steel of diverse types, notably HRC, galvanized steel, color-coated steel,... to the U.S. market. We have more than 12 years of experience in the field of steel export to major markets such as the U.S., UK, Australia, Europe,... so we clearly understand the regulations and policies to help optimize time and effort for customers.In addition, AG真人游戏 Steel has a network connecting large mills in Vietnam such as Hoa Phat, Hoa Sen, Ngoc Minh, SeAh, Bluescope,... providing the highest quality products. As one of the strategic partners of Vietnamese factories, AG真人游戏 Steel always enjoys many attractive preferential policies to offer the best prices to importers.Above are the cases of the United States investigating trade remedies against Vietnamese steel in 2023, latest updated by AG真人游戏 Steel. Understanding the regulations and procedures for importing Vietnamese steel is challenging for many U.S. importers. Meanwhile, AG真人游戏 Steel can assist importers in solving all issues quickly and simply. Please contact us via Whatsapp: +84 76 911 2358 or Email: [email protected] for the best support.

To achieve ResponsibleSteel鈩�  certification, mills must meet strict ESG criteria designed specifically for the steel industry. This is a proud title for the sustainable steel production journey. BlueScope is the first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩� certification.NS BlueScope becomes first in Vietnam, Southeast Asia with ResponsibleSteel鈩� certificationThe first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩� certificationNS BlueScope is the first mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩�  certification. This is also the third factory globally of BlueScope Group to receive this prestigious certification.ResponsibleSteel鈩�  is an international standard for sustainable development specifically for the steel industry. Mills are evaluated based on 13 "Responsible Steel" principles including environmental, social and governance (ESG) standards. The certification demonstrates BlueScope's commitment to sustainable development in Vietnam.Previously, in 20222, BlueScope was also the first and only galvanized steel supplier in Vietnam to be granted a "Green Label" certificate by the Singapore Green Building Council (SGBC) for its key products.NS BlueScope pioneers sustainable steel production in Vietnam and Southeast AsiaAchieving ResponsibleSteelTM certification not only helps the company build a specific development roadmap in sustainable steel production but is also an inspiration for businesses striving to build a strong Vietnamese steel community.Green steel or sustainable production is an emerging trend in developed markets such as the United States, Europe,... To meet sustainable production criteria, businesses are required to comply with higher standards.Not an exception to that trend, since 2015, Vietnamese steel enterprises have continuously researched and improved technology to lead the steel industry to implement green transformation, complying with the commitments of the COP26 Climate Change Summit. The Vietnamese steel industry has developed and become one of the leading manufacturers in ASEAN in terms of production and consumption of finished steel products, ranking 12th in the world in crude steel production by 2023.ResponsibleSteelTM certification inspires Vietnam's steel industry towards sustainability, aligning with global green trendsGeneral introduction about NS BlueScope VietnamNS BlueScope is one of the largest steel sheet manufacturers in Vietnam, part of the Australian NS BlueScope Group. NS BlueScope joined Vietnam's steel industry in 1993, specializing in galvanized steel products such as cold-plated steel, heat-insulating steel, foam steel,... Inheriting experience and production technology from NS BlueScope Australia group, NS BlueScope Vietnam's products are of high quality and exported to many fastidious markets around the world. In recent years, BlueScope has been the only galvanized steel manufacturer in Vietnam to possess Activate鈩� four-layer matrix plating technology - an AM standard that helps protect base steel against all harsh environmental conditions, increasing the lifespan of constructions and enhancing investment efficiency.The above article by AG真人游戏 Steel shared some interesting information surrounding ResponsibleSteel鈩� certification as well as NS BlueScope Vietnam mill. Don't forget to follow AG真人游戏 Steel to read more useful news about the Vietnamese and global steel markets.

The Ministry of Commerce of Thailand is investigating and considering expanding anti-dumping measures on hot-rolled coils imported from China. This country's steel is said to be overrun in the Thai market, causing this country's domestic mills to struggle because of excess capacity and low efficiency.Thailand's Department of Foreign Trade may conclude the investigation by June 2024, after receiving an investigation request last year from Sahaviriya Steel, G Steel and GJ Steel, mills of hot-rolled coil, Thailand's biggest. These businesses are struggling because of widespread cheap Chinese steel, which affects the business of domestic steel mills.Information about the petition requesting Thailand's Department of Foreign Trade to investigate the case of 17 Chinese steel mills for alleged anti-dumping duty evasion. Accordingly, the alloys mixed into steel products by Chinese mills to avoid anti-dumping duties have caused quality control problems, leading to the dumping of steel products. According to Thailand's Department of Foreign Trade, Thai authorities found evidence of changing the composition of steel products and dumping by Chinese steel mills.China's hot-rolled steel coils are at risk of evading anti-dumping dutiesSoutheast Asia is China's leading steel export market, but China is currently facing widespread excess supply as the real estate and infrastructure sectors weaken. That forces China to boost exports, in which Vietnam, Thailand, and Indonesia are among China's main export markets; specifically, steel exports of all kinds increased by 39%. In 2023, Thailand will import 63% of its steel output, which will cause the business situation of domestic steel mills to decline, seriously affecting this country's steel industry.Cheap steel from China is the top choice for consumers. With abundant supply, Chinese steel mills offer Thai buyers cheaper prices than domestic steel mills. In 2023, the price of coated steel from China will be 39% lower than that of Thai products; Chinese steel coils will be sold at a 16% discount. Therefore, Thai steel manufacturing enterprises are facing a difficult situation due to declining revenue, which could affect the entire steel industry in this country.In 2017, Thailand applied anti-dumping measures to a series of imported steel products. This is also a wake-up call for Thai steel mills to focus on improving product quality and expanding sales channels to avoid price competition; otherwise, they will lose to high-priced imports. cheap despite government protections.However, in a public hearing before the DFT, steel importers from China in Thailand opposed the petition for an anti-dumping investigation of steel products from China. The reason that the Thailand steel industry lost its competitiveness comes from mistakes in investment decisions.China's hot-rolled coils affect domestic manufacturing enterprisesOpportunities for the Vietnam steel industryWith hot-rolled steel coils from China being investigated for anti-dumping by Thailand, a new opportunity has opened for the Vietnamese steel export market. With agility, grasping market needs, and boldness in business investment, more and more Vietnamese steel products are exported to Thailand, which is also one of Vietnam's main export markets in Southeast Asia.However, this is also a challenge for Vietnamese steel businesses, forcing businesses to be well prepared for trade defense measures. Therefore, Vietnamese businesses need to continue to improve production and business efficiency by strengthening market forecast analysis and organizing flexible production and business in accordance with market developments. In addition, the government has policies and solutions to create conditions for domestic businesses to promote exports.AG真人游戏 Steel has provided you with information about Thailand's anti-dumping investigation of hot-rolled coils originating from China. However, the investigation has not ended yet. We will continuously update the latest information about the incident.

According to a report from the General Department of Customs, Vietnamese iron and steel exports in March 2024 reached nearly 1.1 million tons with a turnover of more than 834.8 million USD, an increase of 10% in volume and 11.4% in value compared to February 2024. Italy remains Vietnamese largest iron and steel import market with 483 thousand tons, an increase of 80.4% in volume and 64.2% in value compared to the same period in 2023. Vietnamese iron and steel exports in March 2024 witnessed a notable surge, marking a significant uptick in the industry's performanceVietnamese steel export situation in March and Q1/ 2024 In the first quarter of 2024, Vietnamese iron and steel exports earned nearly 2.4 billion USD with more than 3.23 million tons, up 42% in volume and 40.1% in value compared to the same period in 2023. The export situation of Vietnamese iron and steel exports of all kinds has prospered since the beginning of the year, showing positive signs for the steel industry in 2024. Vietnamese iron and steel exports saw a remarkable performance, generating revenue close to 2.4 billion USDRegarding markets, Italy, the US and Cambodia remain the top 3 largest import markets for Vietnamese steel with a total export value in the first quarter of 299 million USD, 399.6 million USD and 182.8 million USD respectively. Notably, iron and steel exports to some markets grew strongly. Specifically, in March 2024, Singapore imported more than 42,000 tons of Vietnamese steel with a turnover of 23 million USD, an increase of 24,000% in volume and 7,456% in value compared to the same period last year. Vietnam is one of Singapore's key steel import markets to reduce dependence on massive Chinese steel sources. According to the Vietnam Steel Association (VSA), steel consumption in 2024 is expected to increase by 6.4% to nearly 21.6 million tons. Among them, exports of finished and semi-finished steel products are expected to reach 13 million tons, an increase of 12%. World steel demand is forecast to recover strongly in 2024, reaching 1.79 billion tons, an increase of 1.7%. Therefore, Vietnamese steel production will have many positive signs, expected to increase by about 10% in 2024. Finished steel production in the two years 2024 - 2025 is estimated to reach about 28 - 30 million tons, with consumption demand domestic steel is about 22 - 23 million tons. Italy, the US, and Cambodia continue to hold their positions as the top 3 largest import markets for Vietnamese steelAG真人游戏 Steel as a trusted Vietnamese steel supplier AG真人游戏 Steel specializes in providing comprehensive Vietnamese steel import solutions, including consulting, sourcing, purchasing, quality control, delivery support and issue resolution. AG真人游戏 Steel supplies Vietnamese iron and steel of all kinds to many markets such as the United States, Italy, Belgium, Australia, Malaysia, Indonesia, Singapore,... Over the years, AG真人游戏 Steel has been famous for providing quality and time-saving solutions to many Vietnamese steel importers worldwide. Our office has a team of experienced experts in the field of iron and steel to provide you with the most optimal advice and solutions for your project. AG真人游戏 Steel has a wide network of connections with all Vietnamese factories, helping to offer the most diverse and competitive prices and products to customers. Above is some information about Vietnamese steel export situation in Q1/2024. Hopefully this article has provided you with useful information about the Vietnamese and global steel markets. You can contact AG真人游戏 Steel via Whatsapp: +84 76 911 2358 and Email: [email protected] for advice and answers to questions about the Vietnamese steel import process.