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Vietnam Will Levy Tax For Imported Steel Billet

Vietnam’s ministry of industry and trade has announced that they will levy tax on temporary safeguard measures for imported steel billets made by high temperature alumina electric blast furnace. Steel billet tax rate is 23.3% and it will take effect since 22th March and it will last for 200 days.

According to the Vietnam steel corporation that the Vietnamese domestic steel billet output can only meet 30 percent of local demand,the rest 70% will be imported from other countries. Vietnam imported 1.5 millions steel billet from China in 2015 and 588,000 tons steel billet made by mini blast furnace from China in 2014.

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