AsemconnectVietnam - In July 2025, construction steel prices in Vietnam increased slightly due to increased domestic demand, thanks to the progress of public investment disbursement and the recovery of the real estate market, causing steel consumption to increase significantly.

At the same time, the Government applied anti-dumping tax on steel imported from China and some other countries, reducing cheap supply, forcing the market to switch to using domestic steel. Prices of raw materials for production such as iron ore, metallurgical coal and scrap in the world remained high, leading to increased input costs. In addition, transportation and production costs also contributed to maintaining steel prices from falling sharply. The expectation of businesses and consumers about economic recovery also created a trend of maintaining prices.
Construction steel prices in 3 regions:
As of July 21, 2025, in the North, the price of Hoa Phat CB240 coil steel reached 13,650 VND/kg, unchanged from the previous month; the price of Viet Y CB240 coil steel was at 13,890 VND/kg, unchanged from the previous month.
In the Central region, the price of Hoa Phat CB240 coil steel was at 13,530 VND/kg, unchanged from the previous month; the price of Viet Duc CB240 coil steel was at 14,050 VND/kg, unchanged from the previous month.
In the South, the price of Hoa Phat CB240 coil steel was at 13,790 VND/kg, unchanged from the previous month; the price of VAS CB240 coil steel was at 13,740 VND/kg, unchanged from the previous month.
Output: In June 2025, finished steel production reached 2.763 million tonne, down 1.3% compared to May 2025 but up 12.2% compared to the same period in 2024. In the second quarter of 2025, finished steel production reached 8.318 million tonne, up 13.4% compared to the same period in 2024. In the first 6 months of 2025, finished steel production reached 15.825 million tonne, up 9.7% compared to the same period in 2024.
Import: According to data from the Vietnam Customs Department, in the first 6 months of 2025, Vietnam imported more than 7.57 million tonne of iron and steel, down 7.94% compared to the same period in 2024. However, import turnover only decreased slightly by 2.12% to 5.38 billion USD. The average import price reached 710.33 USD/tonne, down 2.12% compared to the previous month.
In June 2025 alone, the amount of imported iron and steel reached 1.16 million tonne, down 9.63% compared to the previous month and down 9.1% compared to the same period in 2024. The turnover value reached 833.7 million USD, down 11.29% compared to the previous month and down 10.77% compared to the same period last year. The average import price in the month reached 714.58 USD/tonne, down 1.83% compared to the previous month and down correspondingly compared to the same period in 2024.
Export: According to data from the Vietnam Customs Department, in the first 6 months of 2025, Vietnam exported 5.66 million tonnes of iron and steel of all kinds, earning 3.7 billion USD. Compared to the same period in 2024, export volume decreased by 12.9%, while turnover decreased sharply by 22.6%, reflecting a significant decline in average export prices. Specifically, the average price reached 653.9 USD/tonne, down 11.14% over the same period last year.
In June 2025 alone, Vietnam exported 931,365 tonnes of steel, up 4.34% over the previous month but down 5.74% over the same period in 2024. Turnover reached 611 million USD, up 1.9% over the previous month but down sharply by 17.16% over the same period. The average export price reached 656.58 USD/tonne, down 2.33% compared to the previous month and down 12.11% compared to the same period last year.
Cambodia continued to be Vietnam's largest iron and steel export market in the first 6 months of 2025, with an output of 764,574 tonnes, accounting for 13.52% of total exports, worth more than 437 million USD, accounting for 11.84% of total export turnover. Compared to the same period last year, exports to Cambodia recorded strong growth, up 30.71% in volume and 17.81% in value. Cambodia continues to be the largest export market for Vietnamese iron and steel with 764,574 tonnes, accounting for 13.52% of total volume, worth more than 437 million USD, accounting for 11.84% of total value - recording strong growth of 30.71% in volume and 17.81% in value compared to the same period last year.
Following the main market of Cambodia is Italy with 565,116 tonnes, equivalent to 358.7 million USD. Compared to the same period last year, the export volume decreased by 33.7%, while the value decreased by 32.33%. Accounting for nearly 10% of the total volume and value of Vietnam's iron and steel exports (9.99% and 9.7%, respectively).
India emerged as a bright spot when importing more than 486 thousand tonnes, nearly 3 times higher in volume by 279.6% and more than 85% in value, rising to the third position among Vietnam's largest export markets.
Next is the US with 544,497 tonnes, valued at 343.5 million USD. Compared to the same period in 2024, the volume decreased by 42.16%, while the value decreased even more sharply at 56.41%. This is the largest decrease in the group of key export markets, after Hong Kong, the Philippines and Singapore. The proportion of exports to the US currently accounts for 9.63% in volume and 9.29% in value of Vietnam's total iron and steel exports.
Some markets recorded extraordinary growth, notably Bangladesh, up 366% in volume and 187% in value. Germany grew by 2,030% in volume and more than 1,000% in value. China (Mainland) also unexpectedly became a bright spot when its export volume increased by 258.77% and its value increased by more than 200%.
On the contrary, many traditional markets witnessed a sharp decline. Hong Kong decreased by more than 88% in volume, the Philippines decreased by nearly 63%, Singapore decreased by more than 61%. The markets of Japan, Türkiye, and Myanmar also recorded a decrease of more than 50%.
In the first half of this year, Vietnam's steel exports were clearly differentiated among markets. While some Asian and European markets grew strongly, the industry as a whole was still under pressure to reduce prices and demand declined in many key markets.
T.Huong
Source: Vitic