“Interesting Stories†Drew Capital Flow - STK, F&B Sector Update
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MoIT has just announced the final decision of a 5-year Antidumping duty on coated steel imports. The final duty rates are similar to the preliminary rates during the last 6 months, from 3.17% to 38.34%, which allows steel firms producing GI/GL products to benefit in the long term, and to expand capacity while increasing domestic sales volume. This is largely due to the shortage created by Chinese products leaving the market, especially in Northern Vietnam. Familiar brands in the industry including Hoa Sen (HSG-HSX), Nam Kim (NKG-HSX), Phuong Nam and Ton Dong A, are currently expanding capacity and focusing on the domestic market. These companies all expect to minimize dependency on exports, as many important markets are following the trend of using trade measures against imports and protecting the local supply side.
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