Vietnam’s imports of iron and steel products reached US$697.32 million in May 2025, according to figures released by Vietnam’s General Department of Customs. This represents a significant increase of 8.53 percent compared to April, bringing the year-to-date (YTD) import value to US$2.98 billion.
China continues to overwhelmingly dominate the market, showing strong growth:
China remained the primary source for iron and steel products, with a May value of US$506.90 million. This signifies a strong increase of 8.15 percent from April and accounts for a commanding 71.01 percent of the total year-to-date imports.
South Korea and Japan maintain steady contributions:
Imports from South Korea increased by 0.96 percent to US$64.68 million in May, while Japan’s imports grew by 1.71 percent to US$34.22 million. These countries continue to be significant regional suppliers, accounting for 10.03 percent and 5.64 percent of YTD imports, respectively.
Russia and Norway show extraordinary month-on-month surges:
Several countries exhibited remarkable month-on-month growth in May, albeit from lower bases:
- Russia recorded an astonishing surge of 26070.10 percent, reaching US$7.74 million. This indicates a massive, potentially one-off, shipment.
- Norway imports jumped by 1077.35 percent.
- Canada imports surged by 222.71 percent.
- Sweden saw a significant increase of 90.99 percent.
- Austria imports grew by 78.08 percent.
- Philippines recorded a rise of 65.04 percent.
- Denmark saw a substantial increase of 40.55 percent.
- The “Other” category also saw a significant increase of 43.67 percent.
Significant decreases in imports:
Conversely, some markets faced substantial declines in imports in May:
- UK imports decreased by 21.61 percent.
- Singapore fell by 20.67 percent.
- Italy imports dropped by 13.29 percent.
- Australia saw a decline of 31.94 percent.
- Ukraine recorded no imports in May after having imports in April.
The overall strong increase in May’s iron and steel product imports suggests a robust demand in Vietnam, driven by China’s continuous dominance and substantial, albeit volatile, contributions from other global suppliers.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam imports of iron and steel products, May 2025, US$ millions
| May | April | MoM | YTD | % of YTD | |
| Total | 697.32 | 642.50 | 8.53% | 2,976.24 | 100.00% |
| Other | 7.23 | 5.03 | 43.67% | 0.00 | 0.00% |
| China | 506.90 | 468.68 | 8.15% | 2,113.53 | 71.01% |
| South Korea | 64.68 | 64.07 | 0.96% | 298.57 | 10.03% |
| Japan | 34.22 | 33.64 | 1.71% | 167.86 | 5.64% |
| Taiwan | 16.66 | 15.11 | 10.24% | 77.55 | 2.61% |
| Thailand | 13.53 | 13.03 | 3.87% | 60.37 | 2.03% |
| USA | 8.65 | 8.22 | 5.22% | 42.45 | 1.43% |
| Russia | 7.74 | 0.03 | 26070.10% | 19.45 | 0.65% |
| Germany | 5.90 | 6.10 | -3.34% | 28.96 | 0.97% |
| Malaysia | 4.43 | 4.49 | -1.43% | 21.43 | 0.72% |
| Italy | 3.65 | 4.21 | -13.29% | 13.75 | 0.46% |
| India | 2.90 | 2.72 | 6.46% | 19.63 | 0.66% |
| Netherlands | 2.62 | 2.42 | 8.46% | 9.71 | 0.33% |
| Denmark | 2.06 | 1.47 | 40.55% | 6.84 | 0.23% |
| Spain | 1.89 | 1.77 | 7.03% | 8.79 | 0.30% |
| Singapore | 1.78 | 2.25 | -20.67% | 7.34 | 0.25% |
| Philippines | 1.56 | 0.94 | 65.04% | 8.34 | 0.28% |
| France | 1.48 | 1.23 | 19.86% | 6.75 | 0.23% |
| UK | 1.47 | 1.87 | -21.61% | 6.30 | 0.21% |
| Norway | 1.32 | 0.11 | 1077.35% | 3.12 | 0.10% |
| Sweden | 1.31 | 0.69 | 90.99% | 5.10 | 0.17% |
| Indonesia | 1.10 | 0.89 | 23.15% | 6.29 | 0.21% |
| Austria | 1.06 | 0.59 | 78.08% | 3.25 | 0.11% |
| Poland | 1.05 | 0.92 | 14.86% | 3.48 | 0.12% |
| Switzerland | 1.02 | 1.01 | 0.64% | 4.41 | 0.15% |
| Canada | 0.34 | 0.10 | 222.71% | 1.15 | 0.04% |
| Australia | 0.30 | 0.44 | -31.94% | 1.39 | 0.05% |
Czech Republic | 0.29 | 0.32 | -11.05% | 1.41 | 0.05% |
| Belgium | 0.08 | 0.08 | 2.98% | 0.99 | 0.03% |
| Hong Kong | 0.06 | 0.04 | 31.05% | 0.31 | 0.01% |
| Ukraine | 0.04 | 0.00 | 0.00% | 0.06 | 0.00% |