Vietnam exported iron and steel products to the tune of US$456 million in October, 11.65 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had exported US$4,590 million worth of iron and steel products by the end of October.
In October, Vietnam’s top export destination for iron and steel products was the USA, accounting for US$149 million worth. This was up 3.47 percent over September. Year to date, Vietnam has shipped US$1,302 million worth of iron and steel products to the USA.
After the USA, Japan was the next biggest buyer of iron and steel products from Vietnam. There was US$48 million worth of iron and steel products shipped from Vietnam to Japan in October, a jump of 0.48 percent. Its total for the year to date is now sitting at US$508 million.
Germany was also a major buyer, with US$25 million worth of iron and steel products shipped to the country from Vietnam in October. This was a up 100.10 percent compared to September, for a total of US$172 million for the year so far.
Rounding out the top five was Australia spending US$24 million on Vietnam’s iron and steel products, a 28.64 percent change for a total of US$206 million for the year, and South Korea with US$18 million, a 8.60 percent change month-on-month, for a total of US$163 million.
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Vietnam exports of iron and steel products in October, US$millions
| October | September | MoM | YTD | |
| Total | 456.17 | 408.56 | 11.65% | 4,589.58 |
| Other | 129.77 | 110.67 | 17.26% | 1,326.48 |
| USA | 148.83 | 143.84 | 3.47% | 1,301.95 |
| Japan | 48.25 | 48.02 | 0.48% | 508.14 |
| Germany | 24.58 | 12.28 | 100.10% | 172.15 |
| Australia | 23.95 | 18.62 | 28.64% | 205.63 |
| South Korea | 17.51 | 16.12 | 8.60% | 163.40 |
| Thailand | 15.39 | 11.07 | 39.01% | 115.94 |
| Taiwan | 13.56 | 13.91 | -2.51% | 450.24 |
| Philippines | 13.23 | 13.12 | 0.81% | 101.61 |
| Cambodia | 11.50 | 11.81 | -2.65% | 134.76 |
| India | 9.62 | 9.10 | 5.71% | 109.28 |
| Netherlands | 9.47 | 9.14 | 3.53% | 83.62 |
| China | 9.33 | 8.78 | 6.31% | 80.42 |
| Canada | 8.91 | 7.80 | 14.33% | 91.99 |
| Denmark | 7.84 | 1.88 | 317.47% | 25.39 |
| Poland | 6.97 | 8.98 | -22.34% | 74.16 |
| Malaysia | 5.59 | 3.37 | 65.79% | 65.50 |
| Spain | 4.95 | 3.29 | 50.59% | 34.70 |
| Belgium | 4.09 | 3.69 | 10.99% | 37.32 |
| Laos | 3.98 | 4.29 | -7.18% | 56.95 |
| Singapore | 3.88 | 3.13 | 23.90% | 32.29 |
| Italy | 3.85 | 4.08 | -5.61% | 43.86 |
| Indonesia | 3.69 | 3.72 | -0.90% | 37.36 |
| Sweden | 3.31 | 4.42 | -25.19% | 53.69 |
| Finland | 3.10 | 1.18 | 162.23% | 19.81 |
| France | 2.71 | 2.40 | 12.91% | 18.39 |
| UK | 2.35 | 2.54 | -7.20% | 24.97 |
| Myanmar | 1.97 | 0.56 | 250.35% | 8.27 |
| Brazil | 1.95 | 1.37 | 42.55% | 18.27 |
| Saudi Arabia | 1.34 | 1.22 | 10.25% | 60.28 |
| Hong Kong | 1.07 | 1.21 | -11.22% | 13.06 |
| Switzerland | 1.00 | 0.86 | 15.64% | 8.68 |
| UAE | 0.60 | 3.11 | -80.58% | 32.05 |
| Greece | 0.34 | 0.57 | -40.08% | 4.73 |
| Czech Republic | 0.31 | 0.46 | -32.19% | 2.98 |
| Romania | 0.27 | 0.35 | -21.92% | 27.58 |
| South Africa | 0.17 | 0.21 | -16.39% | 2.84 |
| Norway | 0.09 | 0.00 | 0.00% | 1.07 |
| Lithuania | 0.08 | 0.16 | -49.83% | 43.56 |
| Mozambique | 0.06 | 0.03 | 93.49% | 2.82 |
| Pakistan | 0.05 | 0.05 | 12.96% | 1.36 |
| Brunei Darussalam | 0.02 | 0.04 | -34.12% | 0.28 |
| Argentina | 0.02 | 0.05 | -47.86% | 1.33 |
| Bangladesh | 0.00 | 0.08 | -100.00% | 1.19 |
| Iceland | 0.00 | 0.00 | 0.00% | 0.28 |
| Kazakhstan | 0.00 | 0.00 | 0.00% | 0.03 |
| Kuwait | 0.00 | 0.00 | 0.00% | 1.49 |
Iron and steel products imports
Vietnam imported iron and steel products to the tune of US$731 million in October, up 0.34 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
See the full Vietnam imported iron and steel products report→
Listed iron and steel products 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 27,100 on Wednesday up 0.2 percent with 190,222,000 shares traded, worth VND 514,392 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 19.5 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 Wednesday up 0.15 percent with 21,805,000 shares traded, worth VND 36,643 million.
Foreign ownership in HSG is currently capped at 49.0 percent, with current foreign ownership sitting at 4.7 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 16,600 on Wednesday up 0.5 percent with 37,032,000 shares traded, worth VND 60,559 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 5.1 percent.
SMC Trading Investment JSC
SMC Trading Investment JSC (SMC) trades and processes steel products for industrial and construction use.
SMC closed at VND 13,250 on Wednesday up 0.05 percent with 1,482,000 shares traded, worth VND 1,963 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.
See the latest Vietnam news headlines→
Vietnam’s iron and steel products industry
Vietnam’s iron and steel products industry is supported by expanding manufacturing capacity, growing domestic demand and continued investment in modern production technologies.
Producers supply construction, infrastructure and industrial projects, contributing to the country’s broader industrialisation.
The sector is shaped by global price movements, competition from imported products and the need to meet increasingly strict quality and environmental standards.
Ongoing improvements in processing, product diversification and supply chain integration continue to influence its long-term development.