Vietnam’s iron and steel exports remained relatively stable in October 2024, with volumes reaching 1.09 million tonnes and a value of US$748.93 million. This reflects a marginal 0.1 percent decrease in volume and a 0.3 percent increase in value compared to September, which recorded 1.09 million tonnes and US$747.04 million, according to Vietnam’s General Department of Customs.

Year-to-date performance demonstrates robust growth. From January to October, Vietnam exported 11.03 million tonnes of iron and steel, valued at US$7.96 billion. This represents a 20.9 percent increase in volume and a 14.7 percent rise in value compared to the same period in 2023.

The year-to-date growth highlights Vietnam’s strengthened position in the global iron and steel market, driven by competitive pricing and improved production capacity. While October’s performance remained flat, the sector’s overall trajectory underscores its importance to Vietnam’s export economy. This is all the more pertinent given the challenges currently facing the industry.

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