Vietnam steel industry - March 2026
- Mar 26
- 2 min read
 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
Looking ahead, infrastructure projects will remain the main growth driver, though residential demand may soften due to rising interest rates. Margins face pressure from higher input costs, and exports could be challenged by trade barriers and geopolitical risks.
It’s like playing Slope game—every move requires balance and precision, keeping industrial momentum steady while opening paths toward resilience and global competitiveness.
Interesting overview—it does a good job highlighting both the growth opportunities and the challenges facing Vietnam's steel industry this year. On the entertainment side, I've been taking breaks with Speed Stars and it's a surprisingly fun little game that's perfect for relaxing after reading market reports like this.