Vietnam exports of iron and steel products up 2.37% in January 2026 / USA -5.31%, Japan -4.67%

Vietnam exported iron and steel products to the tune of US$475 million in January, up from US$464 million in December, a change of 2.37 percent, according to preliminary data from Vietnam’s General Department of Customs.

Year to date, Vietnam had exported US$475 million worth of iron and steel products by the end of January.

The USA accounted for US$145 million worth of Vietnam’s iron and steel products exports in January. This was down from US$154 million in iron and steel products exports in December, a change of -5.31 percent. Year to date, Vietnam has shipped US$145 million worth of iron and steel products to USA.

After the USA, Japan making up US$49 million worth of Vietnam’s iron and steel products exports in January. This was down from US$52 million in iron and steel products exports in December, a change of -4.67 percent. Year to date, Vietnam has shipped US$49 million worth of iron and steel products to Japan.

Next was Australia taking US$24 million worth of Vietnam’s iron and steel products exports in January. This was down from US$24 million in iron and steel products exports in December, a change of -2.95 percent. Year to date, Vietnam has shipped US$24 million worth of iron and steel products to Australia.

Following Australia was Thailand representing US$20 million worth of Vietnam’s iron and steel products exports in January. This was down from US$22 million in iron and steel products exports in December, a change of -8.96 percent. Year to date, Vietnam has shipped US$20 million worth of iron and steel products to Thailand.

Rounding out the top five was Taiwan constituting US$20 million worth of Vietnam’s iron and steel products exports in January. This was up from US$14 million in iron and steel products exports in December, a change of 38.84 percent. Year to date, Vietnam has shipped US$20 million worth of iron and steel products to Taiwan.

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Iron + steel products imports

Vietnam imported iron and steel products to the tune of US$822 million in January, down from US$871 million in December, a change of -5.63 percent, according to preliminary data from Vietnam’s General Department of Customs.

Year to date, Vietnam had imported US$822 million worth of iron and steel products by the end of January. Read the full report →

Vietnam iron and steel news

Recent developments in iron and steel in Vietnam include:

Gov’t steel industry development policy

The government of Vietnam has approved a steel industry strategy to 2030 with a vision to 2050, aiming to expand capacity, improve quality, increase domestic self-supply, and deepen participation in global value chains.

The plan targets steady growth in crude and finished steel output through 2035 and toward mid-century, prioritising higher value products such as alloy, stainless, and specialised steels.

Vingroup-linked steel firm losses

Vietnam steel maker Pomina continued to record heavy losses in 2025 despite market attention around potential support from Vingroup.

It describes declining revenue, reduced output, and continued losses linked to factory shutdowns and high fixed and financial costs.

The report explains accounting adjustments that resulted in negative administrative expenses due to reclassification during production suspension periods.

It notes Pomina is seeking strategic investors and suppliers, while its share price rose following disclosure of cooperation and financing support from Vingroup.

Hoa Phat warns of steel power shortages

Hoa Phat Group has proposed four large solar power projects in Quang Ngai to secure electricity supply for its steel operations at the Dung Quat Economic Zone.

Hoa Phat said electricity demand at Dung Quat is rising sharply as new steel capacity comes online, raising risks of local power shortages and grid strain, the article says.

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Vietnam’s iron and steel industry

Vietnam’s iron and steel industry has expanded rapidly over the past two decades, driven by construction, infrastructure and manufacturing demand.

Crude steel output has risen alongside large integrated projects, with domestic producers supplying both long steel for construction and flat steel for industrial use.

Major players include Hoa Phat Group and Formosa Ha Tinh Steel, while the sector remains exposed to volatile global prices and trade remedies in key export markets.

Despite capacity growth, the industry faces structural challenges from oversupply risks, energy intensity, carbon transition pressures and competition from imported steel.

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The data

Vietnam exports of iron and steel products in January, US$m