Vietnam steel industry - March 2026

Vietnam Steel Industry – Jan–Feb 2026 Update & Outlook

Key developments

Steel production rose strongly (+17.5% YoY), supported by solid domestic demand and new capacity coming online.

Exports improved (+10.1% YoY), driven by ASEAN, the US and selected emerging markets. By product, construction steel, steel pipes and HRC performed well, while coated steel and CRC remained weak.

Outlook

Domestic demand, particularly infrastructure, will remain the key growth driver, though residential demand may soften amid rising interest rates.

Margins are likely to face short-term pressure from higher input costs, while selling prices may not fully keep pace due to competition and potential price controls.

Exports face increasing challenges from weaker demand in key markets, rising trade barriers and geopolitical risks affecting certain destinations.

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TABLE OF CONTENTS

A. EXECUTIVE SUMMARY

B. GLOBAL STEEL MARKET

• Global crude steel production

• Leading crude steel producing countries

• Top steel exporting and importing countries

• Crude steel production trends in major producing countries

• China’s finished steel export performance

C. GLOBAL AND DOMESTIC STEEL PRICE DEVELOPMENTS

• Iron ore and coking coal prices

• Construction steel prices in China and the United States

• FOB coking coal prices at Australian ports

• Price correlation between selected domestic steel products and global HRC trends

• Reference prices for D6 CB240 wire rod and D10 CB300 deformed bar by selected brands

D. VIETNAM STEEL MARKET DEVELOPMENTS

• Production performance by steel product group

• Steel production and consumption of VSA member enterprises

• Overall steel export performance

• Leading steel exporters

• List of international customers

• Leading steel exporters to the United States

• Imports of steel products and steel scrap

E. APPENDIX

• Appendix 1: Total steel production of the industry

• Appendix 2: Steel production of VSA member enterprises by product type

• Appendix 3: Steel sales volume of VSA member enterprises by product type

• Appendix 4: Steel export volume and export value

• Appendix 5: Top export markets (by country) for Vietnamese steel

• Appendix 6: Steel import volume and import value

• Appendix 7: Top import sources (by country) of steel into Vietnam

• Appendix 8: Steel scrap import volume and import value

• Appendix 9: Top import sources (by country) of steel scrap into Vietnam

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