According to aggregated data from 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 reached 12.553 million tons, an increase of 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, ranking 10th in the world in raw steel production, almost equal to Brazil ranked 9th (10.8 million tons) according to WSA summary data at the end of May 2026.
It can be seen that the high growth in raw steel production both reflects a strong expansion in production scale and shows that Vietnam's steel industry is aiming for synchronous, closed and modern investment, from upstream to downstream production, and the increasingly high self-reliance capacity of Vietnam's steel industry in the global industrial supply chain.
The production of finished steel products of all kinds reached 14.91 million tons, an increase of 14.5% compared to the same period in 2025. Selling steel products reached 14.93 million tons, an increase of 12.9%, showing that market demand continues to improve despite challenges from the international trade environment.
In May 2026 alone, finished steel production reached 3.24 million tons, an increase of 15.6% compared to the same period last year. Selling reached 3.04 million tons, an increase of 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, an increase of 37.3% compared to the same period in 2025, while sales volume 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 increased by 14.7%, thanks to the recovery of the construction market and infrastructure investment.
In the opposite direction, export activities still face many difficulties. Total steel exports reached 2.26 million tons, down 8% compared to the same period last year. The group of galvanized steel and colored steel was most clearly affected when output decreased by 15.1% and exports decreased by 32.6%, mainly due to weakening demand in key export markets along with the increase in trade remedies globally.
The prospects for the second half of 2026 are still positively assessed. Accelerating public investment disbursement, the gradual recovery of the real estate market and stable demand from the manufacturing industry are expected to continue to support the growth of the steel industry. However, businesses still need to closely monitor the developments of trade remedies, 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 consolidating its competitiveness, improving its adaptability and aiming for sustainable growth in 2026 and the following years.
