Vietnam plans to develop green and energy-saving steel products, and increase the market share of domestically produced steel to gradually replace imports.

Since 2015, Vietnam has become one of the leading producers and consumers of finished steel in ASEAN, ranking 12th globally in crude steel production in 2023 with an output of 20 million tons.

To promote steel exports to the European Union (EU) market, Vietnam's steel manufacturers need to optimise technology, save energy, and carry out product quality standards of the EU, according to Do Nam Binh, head of the Minerals and Metallurgy Division at the Department of Industry under the Ministry of Industry and Trade (MoIT).

According to the Trade Remedies Authority of Vietnam, the alleged dumping margin was applied to Vietnamese extruded aluminum and aluminum products that are exported to the United States.

Steel exports in November surged 21.52 percent month on month and 40 percent year on year, reaching more than 478,300 tonnes, reported the Vietnam Steel Association (VSA).

Hoa Phat Group exported more than 265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, the multi-sectoral conglomerate reported.

Vietnamese steel has faced nearly 10 trade remedy cases in just over a month, which has once again put the industry under great pressure from trade barriers in other countries.

The Ministry of Industry and Trade (MoIT) is working with steel businesses to handle procedures required by the US Department of Commerce (DoC) to seek exemption from duties by proving their products are not made from Chinese materials.

The US DOC announced its preliminary affirmative ruling on corrosion-resistant steel and certain cold-rolled steel flat products imported from Vietnam and produced from substrate originating in China.