According to data compiled by the Vietnam Steel Association (VSA), the steel market in the first 5 months of 2026 received positive signals from domestic steel consumption demand.
Raw steel production achieved 12,553 million tons, increased by 26.4% compared to the same period in 2025. Previously, according to data from the World Steel Association (WSA) in the first 4 months of 2026, Vietnam produced 9.7 million tons, ranked in the second position 10 worlds in terms of crude steel production, nearly equal to Brazil ranked 9th (10.8 million tons) according to WSA aggregate data at the end of May 2026. It can be seen that high crude steel production growth not only reflects the strong expansion of production scale, but also shows that Vietnam's steel industry is moving towards synchronous, modern closed investment, from upstream to downstream production, and the increasing autonomy of Vietnam's steel industry in the global industrial supply chain.
(Source: GSO and VSA data compiled in June 2026)
Producing finished steel products of all kinds reached 14.91 million tons, an increase of 14.5% compared to the same period in 2025. Sales of steel products reached 14.93 million tons, increased by 12.9%, showing that market demand continues to improve despite challenges from the international trade environment.
(Source: VSA compiled in June 2026)
In May 2026 alone, finished steel output reached 3.24 million tons, up 15.6% over the same period last year. Sales reached 3.04 million tons, up 5.4%, reflecting stable production and consumption activities. Notably, HRC continues to be a prominent growth driver of the steel industry.
In the first 5 months of the year, HRC output reached 4.38 million tons, up 37.3% over the same period in 2025, while sales increased by 32.5%. In addition, construction steel also recorded positive results with output reaching 6.29 million tons, an increase of 18.7%, and sales increasing by 14.7%, thanks to the recovery of the construction market and infrastructure investment.
On the contrary, export activities still face many difficulties. Total steel exports reached 2.26 million tons, down 8% over the same period last year. The galvanized steel and color-coated steel group suffered the most obvious impact when output decreased by 15.1% and exports decreased by 32.6%, mainly due to weak demand in key export markets along with the increase in trade defense measures globally.
The outlook for the second half of 2026 is still assessed positively. Accelerated disbursement of public investment, the gradual recovery of the real estate market and stable demand from the manufacturing sector are expected to continue to support the growth of the steel industry. However, businesses still need to closely monitor developments in trade defense measures, competitive pressure from low-priced imported steel and unpredictable fluctuations in the world economy.
With the current growth foundation, Vietnam's steel industry is gradually strengthening its competitiveness, improving adaptability and aiming for sustainable growth in 2026 and the following years.