Vietnam imported iron and steel to the tune of US$1,033 million in January, down from US$1,212 million in December, a change of -14.79 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$1,033 million worth of iron and steel by the end of January.
China accounted for US$446 million worth of Vietnam’s iron and steel imports in January. This was down from US$554 million in iron and steel imports in December, a change of 19.56 percent. Year to date, China has shipped US$446 million worth of iron and steel to Vietnam.
After China, Indonesia making up US$218 million worth of Vietnam’s iron and steel imports in January. This was down from US$245 million in iron and steel imports in December, a change of 10.96 percent. Year to date, Indonesia has shipped US$218 million worth of iron and steel to Vietnam.
Next was South Korea contributing US$124 million worth of Vietnam’s iron and steel imports in January. This was down from US$137 million in iron and steel imports in December, a change of 9.17 percent. Year to date, South Korea has shipped US$124 million worth of iron and steel to Vietnam.
Following South Korea was Japan representing US$100 million worth of Vietnam’s iron and steel imports in January. This was down from US$124 million in iron and steel imports in December, a change of 19.32 percent. Year to date, Japan has shipped US$100 million worth of iron and steel to Vietnam.
Analysis: Is Vietnam’s New Steel Strategy Solving the Right Problem?
In the week before the Lunar New Year, the Government of Vietnam released a new strategy for developing the local steel industry through 2050, setting a crude steel production growth target of 7 to 8 percent a year.
But is more steel production really what Vietnam’s steel industry needs? Read more…
Rounding out the top five was Taiwan which constituted US$51 million worth of Vietnam’s iron and steel imports in January. This was down from US$63 million in iron and steel imports in December, a change of 18.71 percent. Year to date, Taiwan has shipped US$51 million worth of iron and steel to Vietnam.
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Listed iron and steel companies
Key iron and steel firms listed on the Vietnam stock exchange include:
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 11,300 on Friday, down 0.65 percent with 183,000 shares traded, worth VND 213 million.
Foreign ownership in DTL is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
VNSTEEL – Ho Chi Minh City Metal Corporation
VNSTEEL – Ho Chi Minh City Metal Corporation (HMC) trades and distributes steel and non-ferrous metals for industrial and construction use.
HMC closed at VND 11,500 on Friday, up 0.05 percent with 74,000 shares traded, worth VND 86 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 galvanised sheets.
HPG closed at VND 28,800 on Friday, down 0.6 percent with 473,065,000 shares traded, worth VND 1,372,206 million.
Foreign ownership in HPG is currently capped at 49.0 percent, with current foreign ownership sitting at 22.5 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 16,150 on Friday, down 0.1 percent with 31,795,000 shares traded, worth VND 51,287 million.
Foreign ownership in HSG is currently capped at 49.0 percent, with current foreign ownership sitting at 4.5 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 15,800 on Friday, down 0.35 percent with 68,671,000 shares traded, worth VND 109,390 million.
Foreign ownership in NKG is currently capped at 50.0 percent, with current foreign ownership sitting at 5.6 percent.
Son Ha Sai Gon Joint Stock Company
Son Ha Sai Gon Joint Stock Company (SHA) manufactures stainless steel water tanks, pipes, and household appliances.
SHA closed at VND 4,000 on Friday, down 0.01 percent with 58,000 shares traded, worth VND 23 million.
Foreign ownership in SHA is currently capped at 51.4 percent, with current foreign ownership sitting at 0.9 percent.
Son Ha International Corporation
Son Ha International Corporation (SHI) produces stainless steel products, solar water heaters, and construction materials.
SHI closed at VND 14,050 on Friday, down 0.05 percent with 3,443,000 shares traded, worth VND 4,837 million.
Foreign ownership in SHI is currently capped at 49.0 percent, with current foreign ownership sitting at 0.4 percent.
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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.
See the latest Vietnam news headlines→
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 imports of iron and steel in January, US$m
| January | December | MoM | YTD | |
| Total | 1,032.94 | 1,212.16 | -14.79% | 1,032.94 |
| Other | 0.74 | 2.70 | -72.58% | 0.74 |
| China | 445.76 | 554.15 | -19.56% | 445.76 |
| Indonesia | 217.86 | 244.68 | -10.96% | 217.86 |
| South Korea | 124.00 | 136.52 | -9.17% | 124.00 |
| Japan | 100.35 | 124.37 | -19.32% | 100.35 |
| Taiwan | 50.83 | 62.53 | -18.71% | 50.83 |
| India | 45.02 | 36.25 | 24.18% | 45.02 |
| Malaysia | 30.08 | 24.04 | 25.11% | 30.08 |
| Thailand | 6.67 | 12.61 | -47.08% | 6.67 |
| Germany | 1.73 | 3.18 | -45.70% | 1.73 |
| France | 1.54 | 2.00 | -23.11% | 1.54 |
| Sweden | 1.53 | 0.99 | 54.56% | 1.53 |
| USA | 1.42 | 1.86 | -23.64% | 1.42 |
| Netherlands | 0.98 | 0.97 | 1.37% | 0.98 |
| Philippines | 0.89 | 0.85 | 5.25% | 0.89 |
| Australia | 0.86 | 1.81 | -52.72% | 0.86 |
| Belgium | 0.79 | 1.07 | -25.70% | 0.79 |
| Spain | 0.67 | 0.26 | 157.56% | 0.67 |
| Italy | 0.46 | 0.06 | 703.63% | 0.46 |
| Denmark | 0.37 | 0.00 | 0.00% | 0.37 |
| South Africa | 0.21 | 0.08 | 160.77% | 0.21 |
| Turkey | 0.14 | 0.32 | -57.14% | 0.14 |
| Finland | 0.03 | 0.08 | -69.71% | 0.03 |
| Brazil | 0.02 | 0.11 | -79.90% | 0.02 |
| Austria | 0.00 | 0.38 | -100.00% | 0.00 |
| UK | 0.00 | 0.25 | -100.00% | 0.00 |
| Poland | 0.00 | 0.04 | -100.00% | 0.00 |