Vietnam to impose 10% import duty on boron-added longs
Vietnam's ministry of finance is to impose a 10% duty on imports of boron-added long products, sources in the Vietnam Steel Association (VSA) tell Steel Business Briefing. The new duty is the government's response to a VSA proposal to impose a duty of 15% on boron-added long products to ensure that imports from China do not evade the import duty for construction long products. That duty is currently 15%. "We know that (Vietnamese importers) evaded tax because these imports were not more expensive than carbon steel products," the VSA official says. Importers of alloy steel products required for higher end-purposes (such as engineering) will still qualify for the 0% import duty, he notes, because there is no local production of alloy steel products in Vietnam. Though official confirmation has yet to be received, SBB believes that the new duty will take effect from 20 April. VSA sources say that 26,000-28,000 tonnes of boron-added wire rod were imported from China into Vietnam from January to date, under the category of alloy steel products that face 0% import tax. Boron-added steel exports from China also benefit from Beijing's 5-13% export rebate on .specialty' steels instead of being slapped with an export duty of 5%-15% for carbon construction long products. SBB is told that VSA has also proposed that the duty be extended to other long steel products which have added chemical elements, other than boron, in order to qualify as alloy-steel products if the products are to be used for construction purposes.
What is…...boron steel?
The addition of boron to steel allows the achievement of high strength after hardening by heat treatment, but offers a workable material to the fabricator or manufacturer when in the as-delivered condition. Boron is often added to medium carbon steels to achieve an in-service performance comparable to high carbon and more costly low alloy steels (rather than increasing their carbon and manganese content or adding chromium and molybdenum - with the attendant penalty of reduced ductility during fabrication). The amount of boron which is added to achieve these characteristics is very small, in the range 0.0005-0.005%. Traditional applications for boron steels are in wear applications such as shovels/spades, caterpillar tracks, plough shares, punches, also some spring steels, and more recently in automotive car bodies. Here they have been developed into high strength sheet steels for parts of the body shell and chassis - such as door sills, door pillar reinforcement, cross members, safety beams and bumper reinforcements.
Vietnam's ministry of finance is to impose a 10% duty on imports of boron-added long products, sources in the Vietnam Steel Association (VSA) tell Steel Business Briefing. The new duty is the government's response to a VSA proposal to impose a duty of 15% on boron-added long products to ensure that imports from China do not evade the import duty for construction long products. That duty is currently 15%. "We know that (Vietnamese importers) evaded tax because these imports were not more expensive than carbon steel products," the VSA official says. Importers of alloy steel products required for higher end-purposes (such as engineering) will still qualify for the 0% import duty, he notes, because there is no local production of alloy steel products in Vietnam. Though official confirmation has yet to be received, SBB believes that the new duty will take effect from 20 April. VSA sources say that 26,000-28,000 tonnes of boron-added wire rod were imported from China into Vietnam from January to date, under the category of alloy steel products that face 0% import tax. Boron-added steel exports from China also benefit from Beijing's 5-13% export rebate on .specialty' steels instead of being slapped with an export duty of 5%-15% for carbon construction long products. SBB is told that VSA has also proposed that the duty be extended to other long steel products which have added chemical elements, other than boron, in order to qualify as alloy-steel products if the products are to be used for construction purposes.
What is…...boron steel?
The addition of boron to steel allows the achievement of high strength after hardening by heat treatment, but offers a workable material to the fabricator or manufacturer when in the as-delivered condition. Boron is often added to medium carbon steels to achieve an in-service performance comparable to high carbon and more costly low alloy steels (rather than increasing their carbon and manganese content or adding chromium and molybdenum - with the attendant penalty of reduced ductility during fabrication). The amount of boron which is added to achieve these characteristics is very small, in the range 0.0005-0.005%. Traditional applications for boron steels are in wear applications such as shovels/spades, caterpillar tracks, plough shares, punches, also some spring steels, and more recently in automotive car bodies. Here they have been developed into high strength sheet steels for parts of the body shell and chassis - such as door sills, door pillar reinforcement, cross members, safety beams and bumper reinforcements.
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