Industry: Vietnam iron & steel imports show slight dip of 2.39 percent in May

Vietnam’s imports of iron and steel amounted to US$939.85 million in May 2025, according to figures released by Vietnam’s General Department of Customs. This marks a slight decrease of 2.39 percent compared to April, bringing the year-to-date (YTD) import value to US$4.54 billion.

China continues to be the dominant supplier despite a minor decrease:

China remained the largest source of iron and steel imports, with a value of US$451.64 million in May. This is a modest decrease of 3.15 percent from April but still represents a significant 51.09 percent of the total year-to-date imports.

Indonesia shows substantial growth to become the second-largest supplier:

Imports from Indonesia experienced a notable surge of 32.84 percent in May, reaching US$189.63 million. This performance positioned Indonesia as the second-largest supplier for the month and accounts for 15.49 percent of the YTD imports.

Japan and South Korea experience declines:

Imports from Japan decreased by 20.80 percent to US$124.14 million in May, while imports from South Korea saw a 6.19 percent decrease to US$103.38 million. These countries respectively contributed 14.38 percent and 11.02 percent to the YTD total.

Significant month-on-month changes across other markets:

Several countries saw remarkable increases in their iron and steel exports to Vietnam in May:

• Netherlands recorded an extraordinary surge of 565.85 percent, albeit from a low base.
• Austria saw a substantial increase of 354.11 percent.
• Finland‘s imports jumped by 214.68 percent.
• Malaysia experienced a significant rise of 174.68 percent.

Conversely, some markets faced substantial declines:

• Australia saw an 81.25 percent decrease.
• Italy imports dropped by 80.83 percent.
• USA imports decreased by 64.21 percent.
• Spain experienced a 61.77 percent decline.
• Mexico, Denmark, New Zealand, Russia, Saudi Arabia, Singapore, and South Africa, UK showed no imports in May after having imports in April, indicating significant shifts in supply.

The overall slight dip in May’s iron and steel imports suggests a nuanced market dynamic, with strong growth from certain suppliers offsetting declines from others, while China maintains its leading position.

See also: Can Vietnam Survive the Steel-Trade Wars?

Vietnam imports of iron and steel, May 2025, US$ millions