HCMC – Australia has opened an anti-dumping investigation into galvanized steel imports from Vietnam’s Hoa Sen Group and Nam Kim Steel, according to Vietnam’s Ministry of Industry and Trade.
The investigation was initiated by Australia’s Anti-Dumping Commission under the Department of Industry, Science and Resources following a complaint filed by Australian steelmaker BlueScope Steel Limited.
Two South Korean steel companies are also subject to the investigation.
BlueScope alleged that Vietnamese and South Korean exporters sold galvanized steel products in Australia at prices below normal market value, causing damage to the domestic steel industry.
The investigation covers the period from January 1 to December 31, 2025. Australia’s Anti-Dumping Commission is expected to submit its findings to the country’s minister for Industry and Innovation and minister for Science by October 2, 2026.
Products under investigation fall under tariff codes 7210.49.00, 7212.30.00, 7225.92.00, and 7226.99.00.
According to the commission’s report, the estimated dumping margin for Vietnamese exporters is 56.21%.
The Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade advised affected manufacturers and exporters to fully cooperate with Australian investigators throughout the process. The agency said incomplete cooperation or failure to provide information could result in the use of adverse facts available or the imposition of the highest anti-dumping duties.
In a statement, Hoa Sen Group said the 56.21% figure reflected only the allegation made by the petitioner in its filing and was not a preliminary or final conclusion by Australian authorities.
The company said the Australian Anti-Dumping Commission officially launched the investigation on April 30, 2026. Hoa Sen and Nam Kim Steel were identified as the two Vietnamese firms named in the case.
The investigation is currently in its initiation phase, with the companies preparing responses to questionnaires issued by Australian authorities.
Under the current schedule, the Australian investigation agency is expected to release its Statement of Essential Facts by August 18, 2026, before issuing a final determination by October 2, 2026, unless the timeline is extended.
Closing the trading session today, May 11, HSG shares of Hoa Sen Group dropped 2.81% to VND12,100 on a volume of over 5.9 million shares, while NKG shares of Nam Kim Steel JSC also slid 2.47% to VND13,800, with over 5.4 million shares changing hands.
Vietnam’s benchmark VN-Index lost 19.87 points, or 1.04%, to close at 1,895.5 points on Monday as losses in major blue-chip stocks weighed on the market.
On the Hochiminh Stock Exchange, 213 stocks declined while 104 gained. Trading volume reached nearly 960.7 million shares worth VND28.06 trillion. Block deals accounted for more than 91.2 million shares valued at VND2.65 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, declined 33.51 points to 2,040.51, with 27 decliners and two gainers. SAB rose 2.9% and LPB added 1.9%.
DGC led the losses, falling 6.9% and nearing its floor price. VRE dropped 6.4%, while MSN lost 3.4%, VJC declined 3.2%, and both GVR and VPL fell 2.7%.
Property developers VIC and VHM were the biggest drags on the benchmark index, together taking away 7.5 points from the VN-Index.
In the mid- and small-cap segment, CII climbed 6.8% to VND19,700 per share on strong domestic and foreign demand. The stock recorded trading volume of 49.7 million shares, the second highest on the market. Foreign investors net bought more than 1.2 million CII shares.
Stocks related to Gelex Group also advanced. GEL maintained its ceiling-price gain with matched volume of over 7.6 million shares. GEE jumped 3.9% and GEX rose 1.8% with 29.1 million shares traded.
Energy stocks outperformed the broader market, with the sector gaining more than 3.7%. Oil refiner BSR hit its ceiling price of VND27,750 per share on volume of nearly 27.1 million shares. Fertilizer producer DCM gained 6.7% to VND42,900 per share, close to its ceiling level.
Other energy-related shares also posted gains, with PVD up 1.8% and PVT rising 2.7%.
Brokerage stocks stayed in positive territory, edging up nearly 0.5%. VIX rose 4% to VND19,350 per share after nearing its ceiling price during the session. Trading volume in the stock reached 104.3 million shares, the highest on the exchange.
On the Hanoi Stock Exchange, the HNX-Index increased 1.57 points, or 0.64%, to 248.06 points despite broader market weakness. The bourse recorded 61 winners and 90 losers, with trading volume exceeding 67.2 million shares worth VND1.28 trillion.
