Vietnam Steel Association (VSA) hascalled for strict supervision to control the volume of steel importedfrom China and Southeast Asian countries.
The VSA has urged the General Department of Customs, Ministry of Finance and Ministry of Industry and Trade to find an urgent solution after the domestic-steel production dropped sharply in the first two months due to cheaper imported products.
In the first two months, about 700,000 tonnes of six and eight-inch diameter rolling steel were imported from China and ASEAN, putting a strong strain on domestic steel production, the VSA said.
"Currently, the volume of six and eight-inch diameter rolling steel has dramatically dropped due to increased imports," affirmed the VSA's deputy chairman Nguyen Tien Nghi.
Nghi added that the market share of these domestically-produced steel products slipped to 22 percent in the northern and 14 percent in the south.