Safeguard measures against billet imported into Vietnam from Malaysia and Kazakhstan will be reinstated from June 13, according to an announcement by Vietnam's Ministry of Industry and Trade (MIT) on May 29.
Vietnam's MIT previously granted Malaysia and Kazakhstan exemptions from the tariffs, which amount to 17.3%, in November 2018 after it found that the two countries' combined billet export volume to Vietnam did not exceed 9% of its total billet imports, market sources in Southeast Asia said.Vietnam's MIT did not provide a reason for the tariffs re-instatement in the official announcement.Fastmarkets MB's daily import price assessment for billet in Southeast Asia was $455 per tonne cfr Manila on Friday May 31, narrowing downward by $5 per tonne from the previous day, while last Friday's prices were $5 per tonne higher at the...