Vietnam imported iron and steel to the tune of US$1,019 million in November, up from US$996 million in October, a change of 2.23 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$9,978 million worth of iron and steel by the end of November.
China accounted for US$545 million worth of Vietnam’s iron and steel imports in November. This was down from US$601 million in iron and steel imports in October, a change of 9.29 percent. Year to date, China has shipped US$5,237 million worth of iron and steel to Vietnam.
After China was Indonesia making up US$140 million worth of Vietnam’s iron and steel imports in November. This was up from US$89 million in iron and steel imports in October, a change of 56.55 percent. Year to date, Indonesia has shipped US$1,357 million worth of iron and steel to Vietnam.
Next was South Korea contributing US$133 million worth of Vietnam’s iron and steel imports in November. This was up from US$97 million in iron and steel imports in October, a change of 37.92 percent. Year to date, South Korea has shipped US$1,173 million worth of iron and steel to Vietnam.
Following South Korea was Japan representing US$109 million worth of Vietnam’s iron and steel imports in November. This was up from US$94 million in iron and steel imports in October, a change of 15.89 percent. Year to date, Japan has shipped US$1,305 million worth of iron and steel to Vietnam.
Rounding out the top five was Taiwan constituting US$39 million worth of Vietnam’s iron and steel imports in November. This was down from US$73 million in iron and steel imports in October, a change of 46.74 percent. Year to date, Taiwan has shipped US$547 million worth of iron and steel to Vietnam.
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Vietnam imports of iron and steel in November, US$m
| November | October | MoM | YTD | |
| Total | 1,018.57 | 996.36 | 2.23% | 9,977.92 |
| Other | 7.46 | 14.87 | -49.86% | 112.47 |
| China | 545.30 | 601.16 | -9.29% | 5,236.79 |
| Indonesia | 139.79 | 89.29 | 56.55% | 1,357.33 |
| South Korea | 133.20 | 96.57 | 37.92% | 1,172.67 |
| Japan | 108.90 | 93.97 | 15.89% | 1,305.05 |
| Taiwan | 39.04 | 73.29 | -46.74% | 547.10 |
| India | 28.83 | 4.04 | 613.04% | 69.78 |
| Australia | 5.93 | 0.88 | 571.92% | 23.48 |
| Thailand | 5.34 | 3.33 | 60.31% | 43.89 |
| Germany | 2.72 | 2.42 | 12.26% | 22.57 |
| Malaysia | 2.07 | 16.52 | -87.45% | 86.80 |
| Sweden | 1.49 | 1.72 | -13.44% | 18.25 |
| France | 1.16 | 1.96 | -40.73% | 16.18 |
| Belgium | 1.08 | 0.93 | 16.70% | 3.35 |
| Philippines | 1.01 | 1.21 | -16.57% | 13.22 |
| USA | 0.57 | 1.30 | -55.92% | 12.98 |
| Italy | 0.43 | 0.18 | 137.54% | 2.83 |
| Spain | 0.36 | 0.08 | 340.16% | 3.65 |
| Austria | 0.20 | 0.09 | 116.21% | 1.25 |
| Netherlands | 0.09 | 0.45 | -80.27% | 1.53 |
| Finland | 0.09 | 0.32 | -72.28% | 3.50 |
| South Africa | 0.04 | 4.06 | -98.96% | 12.68 |
| Denmark | 0.02 | 0.00 | 0.00% | 0.11 |
| Brazil | 0.00 | 0.00 | 0.00% | 0.37 |
| Canada | 0.00 | 0.00 | 0.00% | 0.71 |
| Hong Kong | 0.00 | 0.00 | 0.00% | 0.04 |
| Mexico | 0.00 | 0.00 | 0.00% | 0.42 |
| New Zealand | 0.00 | 0.00 | 0.00% | 0.61 |
| Poland | 0.00 | 0.00 | 0.00% | 0.60 |
| Russia | 0.00 | 0.00 | 0.00% | 0.69 |
| Saudi Arabia | 0.00 | 0.00 | 0.00% | 0.12 |
| Singapore | 0.00 | 0.00 | 0.00% | 0.09 |
| Turkey | 0.00 | 0.41 | -100.00% | 1.38 |
| UK | 0.00 | 0.89 | -100.00% | 1.83 |
Listed iron and steel companies
These companies are listed on the Ho Chi Minh City Stock Exchange.
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 26,900 on Wednesday up 0.2 percent with 548,809,000 shares traded, worth VND 1,472,298 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 20.0 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 15,300 on Wednesday up 0.3 percent with 34,167,000 shares traded, worth VND 51,805 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 5.0 percent.
SMC Trading Investment JSC
SMC Trading Investment JSC (SMC) trades and processes steel products for industrial and construction use.
SMC closed at VND 13,850 on Wednesday up 0.1 percent with 2,898,000 shares traded, worth VND 4,034 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 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.