Vietnam exported iron and steel to the tune of US$440 million in November, down from US$464 million in October, a change of -5.29 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had exported US$6,076 million worth of iron and steel by the end of November.
India accounted for US$90 million worth of Vietnam’s iron and steel exports in November. This was up from US$51 million in iron and steel exports in October, a change of 78.41 percent. Year to date, Vietnam has shipped US$652 million worth of iron and steel to India.
After India was Cambodia making up US$61 million worth of Vietnam’s iron and steel exports in November. This was down from US$64 million in iron and steel exports in October, a change of 3.54 percent. Year to date, Vietnam has shipped US$768 million worth of iron and steel to Cambodia.
Next was the USA taking US$39 million worth of Vietnam’s iron and steel exports in November. This was up from US$27 million in iron and steel exports in October, a change of 43.85 percent. Year to date, Vietnam has shipped US$508 million worth of iron and steel to the USA.
Following the USA was Malaysia representing US$32 million worth of Vietnam’s iron and steel exports in November. This was down from US$36 million in iron and steel exports in October, a change of 9.98 percent. Year to date, Vietnam has shipped US$376 million worth of iron and steel to Malaysia.
Rounding out the top five was Italy constituting US$27 million worth of Vietnam’s iron and steel exports in November. This was down from US$58 million in iron and steel exports in October, a change of 52.64 percent. Year to date, Vietnam has shipped US$605 million worth of iron and steel to Italy.
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Vietnam exports of iron and steel in November, US$millions
| November | October | MoM | YTD | |
| Total | 439.88 | 464.45 | -5.29% | 6,076.06 |
| Other | 93.29 | 116.00 | -19.58% | 1,901.83 |
| India | 90.25 | 50.58 | 78.41% | 651.67 |
| Cambodia | 61.42 | 63.67 | -3.54% | 768.50 |
| USA | 38.77 | 26.95 | 43.85% | 507.96 |
| Malaysia | 32.44 | 36.04 | -9.98% | 375.52 |
| Italy | 27.38 | 57.82 | -52.64% | 604.68 |
| Taiwan | 20.71 | 27.24 | -23.97% | 316.66 |
| Philippines | 20.20 | 31.90 | -36.66% | 104.79 |
| Belgium | 19.99 | 16.40 | 21.91% | 310.92 |
| Indonesia | 18.83 | 28.13 | -33.04% | 305.58 |
| South Korea | 16.59 | 9.71 | 70.82% | 227.95 |
| Spain | 14.68 | 17.29 | -15.09% | 244.15 |
| Brazil | 14.55 | 0.18 | 8127.00% | 92.17 |
| Thailand | 10.46 | 12.92 | -19.06% | 207.29 |
| Japan | 6.71 | 7.52 | -10.88% | 61.42 |
| Poland | 5.15 | 23.27 | -77.86% | 86.05 |
| China | 2.71 | 3.10 | -12.68% | 25.93 |
| Laos | 2.66 | 2.37 | 12.14% | 45.55 |
| Australia | 1.63 | 14.59 | -88.84% | 220.09 |
| Singapore | 0.88 | 1.08 | -18.64% | 31.35 |
| UK | 0.85 | 0.88 | -3.26% | 97.04 |
| Russia | 0.79 | 0.02 | 3498.68% | 6.63 |
| Saudi Arabia | 0.66 | 0.93 | -29.54% | 7.53 |
| Kuwait | 0.59 | 0.59 | 0.35% | 2.19 |
| UAE | 0.59 | 2.82 | -79.18% | 9.91 |
| Germany | 0.43 | 0.24 | 77.58% | 32.26 |
| Myanmar | 0.36 | 0.90 | -59.91% | 4.27 |
| Turkey | 0.32 | 0.16 | 101.94% | 61.34 |
| Argentina | 0.20 | 0.06 | 265.04% | 3.07 |
| Hong Kong | 0.13 | 0.06 | 117.54% | 5.16 |
| Bangladesh | 0.11 | 0.00 | 0.00% | 1.08 |
| Pakistan | 0.06 | 0.04 | 45.26% | 0.21 |
| Egypt | 0.04 | 0.00 | 0.00% | 0.11 |
Listed iron and steel companies
Hoa Phat Group
Hoa Phat Group is one of Vietnam’s largest industrial conglomerates, primarily engaged in iron and steel production, including construction steel, hot-rolled coil, pipes, and galvanized sheets.
HPG closed at VND 26,550 on Thursday down 0.1 percent with 171,422,000 shares traded, worth VND 457,724 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 19.7 percent.
Nam Kim Steel JSC
Nam Kim Steel JSC (NKG) manufactures and exports galvanised and coated steel products for construction and industrial use.
NKG closed at VND 15,600 on Thursday down 0 percent with 20,388,000 shares traded, worth VND 31,811 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 4.9 percent.
Hoa Sen Group
Hoa Sen Group (HSG) manufactures and exports steel sheets, roofing materials, and plastic pipes throughout Southeast Asia.
HSG closed at VND 16,400 on Thursday down 0.05 percent with 17,304,000 shares traded, worth VND 28,473 million.
Foreign ownership in HSG is currently capped at 49.0 percent, with current foreign ownership sitting at 4.6 percent.
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Vietnam’s iron and steel news
Recent developments in iron and steel in Vietnam include:
Circumvention investigation steel wheels
The US Department of Commerce has opened an anti-circumvention investigation into 22.5–24.5 inch steel wheels completed in Vietnam using Chinese hot-rolled steel.
Petitioners claim imports of Chinese hot-rolled steel into Vietnam surged 291 percent between 2017 and 2023, with Vietnamese steel wheel shipments to the US increasing from US$7 million in 2018 to US$76 million in 2024.
New steel plant no orders
Hoa Phat Group is planning to start construction of a rail and special steel plant on 19 December 2025, investing VND 10,000 billion (US$379.4 million) on an 18-hectare site with a designed capacity of 700,000 tonnes per year.
Of note, it has been researching rail steel for about four years but has not received any orders.
VinSteel/Pomina partnership
Under a plan announced by Vingroup, a 0 percent working-capital loan for up to two years will be provided to steel maker Pomina through Vingroup subsidiary VinMetal.
Vingroup will also give the firm procurement priority for VinFast, Vinhomes and VinSpeed steel needs.
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Vietnam’s iron and steel industry
Vietnam’s iron and steel industry has expanded rapidly alongside industrialisation, supported by domestic investment and rising demand from construction and manufacturing.
Production capacity has grown through new integrated mills, while firms continue to upgrade technology to improve efficiency and product quality.
The sector remains exposed to global price volatility and competition from imports, prompting ongoing efforts to strengthen supply chains and develop higher-value products.