Vietnam exported iron and steel to the tune of US$515 million in February, down from US$650 million in January, a change of -20.82 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam exported US$1,165 million worth of iron and steel by the end of February.
The United States accounted for US$88 million in February, down from US$104 million in January, a decline of 15.55 percent. Year to date, exports to the United States reached US$192 million.
India followed with US$64 million in February, down from US$69 million in January, a decline of 7.97 percent. Year to date, exports to India totalled US$133 million.
Cambodia also recorded US$64 million in February, down from US$66 million in January, a decline of 2.82 percent. Year to date, exports to Cambodia reached US$129 million.
Italy posted US$59 million in February, up from US$22 million in January, an increase of 165.46 percent. Year to date, exports to Italy totalled US$81 million.
Indonesia rounded out the top five with US$33 million in February, up from US$29 million in January, an increase of 11.02 percent. Year to date, exports to Indonesia reached US$62 million.
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Listed iron and steel companies
Key iron and steel firms listed on the Vietnam stock exchange include:
VNSTEEL – Ho Chi Minh City Metal Corporation (HMC)
VNSTEEL – Ho Chi Minh City Metal Corporation (HMC) trades and distributes steel and non-ferrous metals for industrial and construction use. (HMC)
In February, HMC shares moved from 11.10 to 11.50, a change of 0.40 (0.04 percent).
Foreign ownership moved from 132,774.12 to 132,736.12, a change of -38.00 (0.00 percent).
Hoa Phat Group (HPG)
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)
In February, HPG shares moved from 26.80 to 28.80, a change of 2.00 (0.07 percent).
Foreign ownership moved from 21,950,641.11 to 20,361,245.73, a change of -1,589,395.38 (-0.07 percent).
Hoa Sen Group (HSG)
Hoa Sen Group (HSG) manufactures and exports steel sheets, roofing materials, and plastic pipes throughout Southeast Asia. (HSG)
In February, HSG shares moved from 16.10 to 16.15, a change of 0.05 (0.00 percent).
Foreign ownership moved from 2,765,904.28 to 2,765,509.32, a change of -394.96 (0.00 percent).
Nam Kim Steel JSC (NKG)
Nam Kim Steel JSC (NKG) manufactures and exports galvanised and coated steel products for construction and industrial use. (NKG)
In February, NKG shares moved from 15.20 to 15.80, a change of 0.60 (0.04 percent).
Foreign ownership moved from 2,006,927.12 to 1,988,192.18, a change of -18,734.94 (-0.01 percent).
Son Ha Sai Gon Joint Stock Company (SHA)
Son Ha Sai Gon Joint Stock Company (SHA) manufactures stainless steel water tanks, pipes, and household appliances. (SHA)
In February, SHA shares moved from 4.07 to 4.00, a change of -0.07 (-0.02 percent).
Foreign ownership was unchanged.
Son Ha International Corporation (SHI)
Son Ha International Corporation (SHI) produces stainless steel products, solar water heaters, and construction materials. (SHI)
In February, SHI shares moved from 14.15 to 14.05, a change of -0.10 (-0.01 percent).
Foreign ownership moved from 829,067.13 to 828,314.13, a change of -753.00 (0.00 percent).
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Vietnam iron and steel news
Recent developments in iron and steel in Vietnam include:
Antidumping duties on steel
The United States Department of Commerce issued a preliminary anti-dumping decision imposing tariffs of up to 130.77 percent on reinforcing steel imports from Vietnam.
Hoa Phat and its affiliated companies face a preliminary tariff of 121.97 percent.
Vietnam’s reinforcing steel exports to the United States rose from about US$43,000 in 2022 to nearly US$30 million in 2024. Read more→
Another VinFast factory
On February 28, 2026, the Ha Tinh Economic Zone Management Board granted an investment certificate for the VinFast Ha Tinh electric motorbike plant.
The project covers more than 64 hectares in Vung Ang Economic Zone with total investment exceeding VND13,254 billion, about US$503 million.
Phase one in 2026 will produce one million vehicles annually, with mass production beginning in the second quarter after first-quarter construction.
On February 27, authorities also approved the Vinmetal Ha Tinh steel plant with nearly VND80,000 billion, about US$3.04 billion, and five million tonnes annual capacity in phase one. Read more→
See the latest Vietnam news headlines→
Vietnam’s iron and steel industry
Vietnam’s steel industry is a core pillar of the country’s industrial base, supplying materials for construction, infrastructure, and manufacturing.
The sector has expanded rapidly over the past decade, led by large domestic players investing in integrated steel complexes and increasing production capacity.
Despite this growth, the industry remains exposed to global price cycles and relies heavily on imported raw materials such as iron ore and coking coal.
Oversupply risks, trade protection measures in export markets, and rising input costs continue to shape the sector’s outlook and profitability.
Find out about starting a business in Vietnam→
The data
Vietnam exports of iron and steel in February, US$m
| February | January | MoM | YTD | |
| Total | 514.92 | 650.28 | -20.82% | 1,165.00 |
| Other | 39.13 | 59.40 | -34.13% | 98.51 |
| USA | 87.99 | 104.20 | -15.55% | 192.07 |
| India | 63.81 | 69.33 | -7.97% | 133.15 |
| Cambodia | 63.75 | 65.60 | -2.82% | 129.35 |
| Italy | 59.13 | 22.27 | 165.46% | 81.40 |
| Indonesia | 32.69 | 29.44 | 11.02% | 61.79 |
| Belgium | 32.24 | 24.00 | 34.37% | 56.24 |
| Malaysia | 32.10 | 63.81 | -49.70% | 95.91 |
| Poland | 17.90 | 14.28 | 25.36% | 32.19 |
| Brazil | 13.60 | 16.43 | -17.24% | 30.03 |
| Turkey | 13.57 | 23.61 | -42.51% | 37.18 |
| Taiwan | 11.81 | 26.83 | -56.00% | 38.64 |
| Thailand | 11.73 | 38.79 | -69.78% | 50.54 |
| South Korea | 9.77 | 9.65 | 1.23% | 19.42 |
| Australia | 5.85 | 13.94 | -58.06% | 19.79 |
| Japan | 5.35 | 6.71 | -20.40% | 12.06 |
| Spain | 4.30 | 19.81 | -78.28% | 24.11 |
| Singapore | 1.66 | 2.52 | -34.00% | 4.19 |
| Laos | 1.66 | 2.85 | -41.84% | 4.52 |
| China | 1.51 | 3.23 | -53.19% | 4.75 |
| UAE | 1.29 | 0.42 | 208.35% | 1.71 |
| UK | 0.72 | 2.38 | -69.92% | 3.09 |
| Russia | 0.67 | 0.42 | 61.46% | 1.09 |
| Saudi Arabia | 0.67 | 0.76 | -12.52% | 1.43 |
| Myanmar | 0.66 | 1.16 | -43.24% | 1.82 |
| Philippines | 0.55 | 27.31 | -97.98% | 28.12 |
| Kuwait | 0.47 | 0.63 | -25.50% | 1.10 |
| Germany | 0.28 | 0.46 | -40.66% | 0.74 |
| Hong Kong | 0.07 | 0.00 | 0.00% | 0.08 |