Vietnam’s Ministry of Industry and Trade has decided to officially launch an anti dumping investigation into galvanised steel from China and South Korea. It was first reported that local steel makers Hoa Phat Steel and Formosa were pushing for an antidumping investigation back in April.
If anti dumping duties are introduced Hoa Phat Steel, which trades on the Ho Chi Minh City Stock Exchange under the ticker HPG, would likely be one of the key beneficiaries. Stocks in the firm are some of the most heavily traded on a near daily basis among foreign investors. Foreign ownership in the firm is currently capped at 49 percent with 24.92 percent of the company’s shares currently held by foreign traders.
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