Vietnam crude steel production rises 28% in first seven months of 2026

Vietnam's crude steel production reached 17.92 million tons in the first seven months of 2026, marking a 28% increase compared to the same period last year. This growth rate significantly outpaces the general manufacturing and industrial sectors, which grew by approximately 12% and 11.4%, respectively.

Finished steel production rose by 15.4% to 21.4 million tons, while consumption increased by 15.6% to 21.186 million tons. While construction steel and hot-rolled coil (HRC) showed positive trends, the market experienced divergence as galvanized steel and cold-rolled steel production fell by 13.5% and 10.2%, respectively.

In terms of trade, Vietnam imported approximately 9 million tons of steel valued at over $6.68 billion, a 4% increase in volume and 7.5% in value. Exports of finished steel reached 6.69 million tons, valued at $4.54 billion, representing a 4.2% increase in volume and 7.4% in value. The total import-export turnover for the steel industry is estimated at $11.2 billion, accounting for roughly 2% of the nation's total trade turnover. The ASEAN bloc remains the largest export market for Vietnamese steel, accounting for 31.33% of exports.