Vietnam imported iron and steel to the tune of US$996 million in October, up 23.91 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$8,958 million worth of iron and steel by the end of October.
In October, Vietnam’s top supplier of iron and steel was China, accounting for US$601 million worth. This was up 57.87 percent over September. Year to date, China has shipped US$4,688 million worth of iron and steel to Vietnam.
After China, South Korea was the next biggest supplier. It shipped US$97 million worth of iron and steel to Vietnam in October, a fall of 3.19 percent. Its total for the year to date is now sitting at US$1,039 million.
Japan was also a major supplier, shipping US$94 million worth of iron and steel to Vietnam in October. This was a fall of 5.89 percent, for a total of US$1,195 million for the year.
Rounding out the top five was Indonesia with US$89 million, a -31.57 percent change month-on-month, for a total of US$1,220 million for the year, and Taiwan with US$73 million, a 47.93 percent change for a total of US$508 million.
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Vietnam imports of iron and steel in October, US$millions
| October | September | MoM | YTD | |
| Total | 996.36 | 804.13 | 23.91% | 8,957.82 |
| Other | 11.69 | 9.58 | 22.00% | 109.72 |
| China | 601.16 | 380.80 | 57.87% | 4,687.96 |
| South Korea | 96.57 | 99.76 | -3.19% | 1,039.37 |
| Japan | 93.97 | 99.85 | -5.89% | 1,195.50 |
| Indonesia | 89.29 | 130.48 | -31.57% | 1,220.48 |
| Taiwan | 73.29 | 49.55 | 47.93% | 508.06 |
| Malaysia | 16.52 | 20.96 | -21.18% | 84.73 |
| South Africa | 4.06 | 0.34 | 1111.85% | 12.63 |
| India | 4.04 | 4.84 | -16.41% | 40.95 |
| Thailand | 3.33 | 5.18 | -35.67% | 38.57 |
| Germany | 2.42 | 2.79 | -12.98% | 19.85 |
| France | 1.96 | 1.52 | 29.06% | 15.02 |
| Sweden | 1.72 | 1.40 | 22.31% | 16.76 |
| USA | 1.30 | 1.47 | -12.06% | 12.41 |
| Philippines | 1.21 | 1.27 | -4.80% | 12.21 |
| Belgium | 0.93 | 0.29 | 221.98% | 2.27 |
| UK | 0.89 | 0.00 | 0.00% | 1.82 |
| Australia | 0.88 | 1.30 | -32.14% | 17.55 |
| Netherlands | 0.45 | 0.02 | 2055.56% | 1.44 |
| Turkey | 0.41 | 0.17 | 147.76% | 1.36 |
| Finland | 0.32 | 0.02 | 1292.40% | 3.41 |
| Italy | 0.18 | 0.51 | -64.85% | 2.40 |
| Austria | 0.09 | 0.06 | 44.73% | 1.05 |
| Spain | 0.08 | 0.25 | -67.80% | 3.30 |
| Brazil | 0.00 | 0.19 | -100.00% | 0.36 |
| Canada | 0.00 | 0.04 | -100.00% | 0.71 |
| Denmark | 0.00 | 0.00 | 0.00% | 0.09 |
| Hong Kong | 0.00 | 0.00 | 0.00% | 0.04 |
| Mexico | 0.00 | 0.00 | 0.00% | 0.40 |
| New Zealand | 0.00 | 0.00 | 0.00% | 0.61 |
| Poland | 0.00 | 0.00 | 0.00% | 0.59 |
| Russia | 0.00 | 0.18 | -100.00% | 0.69 |
| Saudi Arabia | 0.00 | 0.00 | 0.00% | 0.12 |
| Singapore | 0.00 | 0.00 | 0.00% | 0.07 |
Vietnam iron and steel exports
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.
Learn more about Vietnam’s iron and steel exports in October→
Listed iron and steel companies
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 14,000 on Wednesday down 0.1 percent with 118,000 shares traded, worth VND 166 million.
Foreign ownership in DTL is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
Metals Corporation JSC
Metals Corporation JSC (HMC) trades and distributes steel and non-ferrous metals for industrial and construction use.
HMC closed at VND 11,650 on Wednesday down 0 percent with 15,000 shares traded, worth VND 17 million.
Foreign ownership in HMC is currently capped at 49.0 percent, with current foreign ownership sitting at 0.4 percent.
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 27,000 on Wednesday up 0.4 percent with 306,629,000 shares traded, worth VND 824,989 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 18.9 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 17,100 on Wednesday up 0.2 percent with 37,973,000 shares traded, worth VND 64,991 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 17,100 on Wednesday up 0.65 percent with 120,503,000 shares traded, worth VND 204,668 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 5.3 percent.
Son Ha Group JSC
Son Ha Group JSC (SHA) manufactures stainless steel water tanks, pipes, and household appliances.
SHA closed at VND 4,100 on Wednesday up 0.01 percent with 329,000 shares traded, worth VND 134 million.
Foreign ownership in SHA is currently capped at 51.4 percent, with current foreign ownership sitting at 0.9 percent.
SMC Trading Investment JSC
SMC Trading Investment JSC (SMC) trades and processes steel products for industrial and construction use.
SMC closed at VND 13,200 on Wednesday up 0.2 percent with 5,165,000 shares traded, worth VND 6,806 million.
Foreign ownership in SMC 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 the last 30 days.
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.