Vietnam exported iron and steel to the tune of US$464 million in October, down 6.54 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had exported US$5,638 million worth of iron and steel by the end of October.
In October, Vietnam’s top destination of iron and steel was Cambodia, accounting for US$64 million worth. This was up 8.17 percent over September. Year to date, Vietnam has shipped US$707 million worth of iron and steel to Cambodia.
After Cambodia, Italy was the next biggest buyer of iron and steel from Vietnam. There was US$58 million worth of iron and steel shipped from Vietnam to Italy in October, a jump of 7.19 percent. Its total for the year to date is now sitting at US$578 million.
India was also a major buyer, with US$51 million worth of iron and steel shipped to the country from Vietnam in October. This was a 44.50 percent change compared to September, for a total of US$561 million for the year.
Rounding out the top five was Malaysia spending US$36 million on Vietnam’s iron and steel, a fall of 8.14 percent over September change for a total of US$343 million for the year, and Philippines with US$32 million, a 26.30 percent change month-on-month, for a total of US$85 million.
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Vietnam exports of iron and steel in October, US$millions
| October | September | MoM | YTD | |
| Total | 464.45 | 496.95 | -6.54% | 5,637.86 |
| Other | 101.55 | 178.02 | -42.95% | 2,001.29 |
| Cambodia | 63.67 | 58.86 | 8.17% | 707.10 |
| Italy | 57.82 | 53.94 | 7.19% | 577.96 |
| India | 50.58 | 35.01 | 44.50% | 561.45 |
| Malaysia | 36.04 | 39.24 | -8.14% | 343.20 |
| Philippines | 31.90 | 25.26 | 26.30% | 84.58 |
| Indonesia | 28.13 | 17.17 | 63.86% | 286.74 |
| Taiwan | 27.24 | 34.06 | -20.02% | 295.95 |
| USA | 26.95 | 25.14 | 7.22% | 469.20 |
| Poland | 23.27 | 6.12 | 280.27% | 80.92 |
| Spain | 17.29 | 24.14 | -28.40% | 229.47 |
| Belgium | 16.40 | 30.64 | -46.48% | 291.36 |
| Australia | 14.59 | 11.73 | 24.47% | 218.46 |
| Thailand | 12.92 | 20.16 | -35.92% | 196.96 |
| South Korea | 9.71 | 13.10 | -25.87% | 211.43 |
| Japan | 7.52 | 6.43 | 17.05% | 54.72 |
| China | 3.10 | 2.54 | 22.15% | 23.22 |
| UAE | 2.82 | 0.27 | 960.01% | 9.32 |
| Laos | 2.37 | 2.58 | -8.25% | 42.89 |
| Singapore | 1.08 | 1.29 | -16.04% | 30.47 |
| Saudi Arabia | 0.93 | 1.00 | -7.08% | 6.87 |
| Myanmar | 0.90 | 0.35 | 157.36% | 3.91 |
| UK | 0.88 | 3.05 | -71.08% | 96.19 |
| Kuwait | 0.59 | 0.18 | 225.44% | 1.60 |
| Germany | 0.24 | 0.45 | -46.56% | 31.84 |
| Brazil | 0.18 | 0.38 | -53.48% | 77.62 |
| Turkey | 0.16 | 10.48 | -98.50% | 61.02 |
| Hong Kong | 0.06 | 0.10 | -38.49% | 5.03 |
| Argentina | 0.06 | 0.27 | -79.22% | 2.87 |
| Pakistan | 0.04 | 0.08 | -52.39% | 0.15 |
| Russia | 0.02 | 0.90 | -97.55% | 5.84 |
| Bangladesh | 0.00 | 0.06 | -100.00% | 0.97 |
| Egypt | 0.00 | 0.00 | 0.00% | 0.07 |
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 26,050 on Friday down 0.05 percent with 551,002,000 shares traded, worth VND 1,444,365 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 18.7 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 16,850 on Friday down 0.15 percent with 65,308,000 shares traded, worth VND 111,783 million.
Foreign ownership in HSG is currently capped at 49.0 percent, with current foreign ownership sitting at 5.2 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 16,700 on Friday down 0.05 percent with 137,154,000 shares traded, worth VND 232,634 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 5.3 percent.
Dai Thien Loc Corporation
Dai Thien Loc Corporation (DTL) produces and trades steel sheets, pipes, and construction materials for domestic and export markets.
DTL closed at VND 13,900 on Friday down 0.2 percent with 97,000 shares traded, worth VND 136 million.
Foreign ownership in DTL is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
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Vietnam’s iron and steel news
Key steel news items from October 2025.
VinMetal investors
VnExpress reported that two sons of billionaire Pham Nhat Vuong have contributed a combined VND 200 billion or about US$7.6 million to VinMetal, Vingroup’s new steel subsidiary.
VinMetal plans 5 million tonnes of annual capacity in phase one, focusing on construction steel, hot-rolled coil (HRC) and alloy steel for EV and transport projects.
Major steel maker fined
Ho Chi Minh City’s Tax Department fined steel maker Hoa Sen Group more than VND 1.5 billion or about US$58,000 for tax violations between 2021 and 2022.
The company was found to have declared non-business expenses, submitted incomplete documents, and exceeded the legal overtime payment limit of 300 hours per year.
Authorities adjusted Hoa Sen’s 2021 taxable income upward by over VND 5 billion, resulting in more than VND 1 billion in additional corporate income tax.
The fine includes VND 201.2 million for incorrect declarations and VND 306.9 million in late-payment interest.
Anti-circumvention investigation Chinese steel
The Ministry of Industry and Trade launched an investigation into suspected evasion of trade defence measures on hot-rolled coil (HRC) steel imported from China.
The probe targets Chinese HRC products between 1,880mm and 2,300mm wide, following earlier anti-dumping duties imposed in July ranging from 23.1 to 27.83 percent for five years.
The investigation follows petitions from Hoa Phat Group and Formosa Ha Tinh Steel, as imports of Chinese HRC rose 33 percent in 2024 to 12.6 million tonnes, even after Vietnam began its initial anti-dumping inquiry.
Vietnam’s iron and steel industry
Vietnam’s iron and steel industry is one of the country’s key industrial sectors, supplying materials for construction, infrastructure, and manufacturing.
Major producers include Hoa Phat Group, Formosa Ha Tinh Steel, and Pomina, which account for most domestic output.
The industry has grown rapidly in recent years, supported by rising demand from real estate and public investment projects.
Exports of steel products have also increased, particularly to ASEAN and European markets.
At the same time, the sector faces challenges from global overcapacity, environmental pressures, and rising production costs.