Vietnam Launches Anti-Dumping Probe into Chinese Prestressed Steel; HPG Subsidiary Among Petitioners

Overview

Vietnam’s Ministry of Industry and Trade (MOIT) has initiated an anti-dumping investigation into prestressed steel bars imported from China, following a petition by two domestic producers, including a subsidiary of Hoa Phat Group (HOSE: HPG). The probe, designated case AD24, was formally launched on July 27, 2026, and covers specific HS codes. This marks a significant defensive trade action by Vietnam’s steel sector amid rising import competition.

Key Facts

• MOIT initiated anti-dumping investigation AD24 on July 27, 2026, covering prestressed steel bars from China.
• The investigation covers HS codes 7227.20.00, 7228.20.11, 7228.20.19, and 7229.20.00.
• Petitioners are Hoa Phat Prestressed Steel Co., Ltd. (a subsidiary of Hoa Phat Group) and Viet Nhat Prestressed Steel Joint Stock Company.
• The dumping review period is from July 1, 2025, to June 30, 2026.
• The injury assessment period extends from July 1, 2022, to June 30, 2026.
• Foreign producers and exporters must respond to the questionnaire by October 2, 2026.
• The petition alleges Chinese imports are being sold at dumped prices, causing or threatening material injury to domestic producers.

What Happened

According to the Trade Remedies Authority of Vietnam, the investigating authority has sent questionnaires to foreign producers and exporters involved in the case. The deadline for submitting responses is October 2, 2026. The decision to investigate follows a review of the petition filed under Vietnam’s trade remedy laws.

The petition was filed by Công ty TNHH MTV Thép dự ứng lực Hòa Phát (Hoa Phat Prestressed Steel Co., Ltd.), a subsidiary of Hoa Phat Group, and CTCP Thép dự ứng lực Việt Nhật (Viet Nhat Prestressed Steel Joint Stock Company). These two companies represent the domestic industry producing like products. In their filing, they allege that prestressed steel bars originating from China are being exported to Vietnam at dumped prices, causing or threatening material injury to domestic production.

Market Context

HPG closed at VND 22,000 on August 27, 2026, up 0.91% with a volume of 14.9 million shares on HOSE. The stock has been under pressure from global steel oversupply and weak demand. This anti-dumping probe is part of a broader trend of rising trade defense measures in Vietnam’s steel sector, as domestic producers seek protection from cheap imports, particularly from China. The investigation could support domestic steel prices and volumes if preliminary duties are imposed, benefiting HPG’s downstream operations.

Strategic Significance

For Hoa Phat, this investigation is a strategic move to protect its domestic market share in prestressed steel, a niche but high-value product used in construction and infrastructure. If anti-dumping duties are imposed, it could reduce import competition, allowing HPG to maintain or increase prices and volumes. This aligns with HPG’s vertical integration strategy, as the subsidiary produces prestressed steel from its own billet. The outcome could also signal a more proactive stance by Vietnamese steelmakers in using trade remedies, potentially leading to more filings in other steel products.

What to Watch

• Preliminary determination and potential provisional duties, typically within 60-90 days of initiation.
• Responses from Chinese exporters by October 2, 2026, and any subsequent hearings.
• MOIT’s final determination, expected within 12 months of initiation, possibly extended.
• Impact on HPG’s quarterly earnings if duties are imposed, particularly in the prestressed steel segment.
• Any retaliatory trade measures from China affecting Vietnamese steel exports.