The U.S. Department of Commerce may launch an investigation into Chinese steel trade practices, focussing on whether steel is being diverted with minimal treatment via Vietnam. Panjiva data shows total U.S. steel imports from China in the third quarter fell 64% on a year earlier, and from Vietnam increased 9.3-fold while exports from China to Vietnam increased 5%. Even if diversions are happening, they are not wholly effective – combined exports to the U.S. fell 33% in the third quarter.