AsemconnectVietnam - In July 2025, construction steel prices in Vietnam remained stable with a slight upward trend, driven by: • Rising domestic demand due to public investment disbursement and recovery in the real estate sector. • The government’s anti-dumping duties on imports from China and other countries, reducing cheap supply and pushing the market toward local steel. • Elevated input costs (iron ore, coking coal, scrap) globally, alongside logistics and production expenses, prevented prices from falling further. • Positive sentiment from businesses and consumers regarding economic recovery also supported stable pricing.

Construction steel prices as of July 21, 2025:
• North: Hòa Phát CB240 coil at VND13,650/kg; Việt Ý CB240 coil at VND13,890/kg (unchanged MoM).
• Central: Hòa Phát CB240 coil at VND13,530/kg; Việt Đức CB240 coil at VND14,050/kg (unchanged).
• South: Hòa Phát CB240 coil at VND13,790/kg; VAS CB240 coil at VND13,740/kg (unchanged).
Iron ore (62% Fe): The average price in June 2025 stood at USD94.5/ton, down 11.31% YoY and 4.69% MoM. The 6-month average price was USD100.7/ton, down 14.5% YoY. On July 8, 2025, iron ore (62% Fe) was traded at USD95.2/ton CFR Tianjin Port, China, up slightly by USD0.2 from early June 2025.
Coking coal: The average transaction price in June 2025 was USD178/ton, down 7.19% MoM and sharply down 28.47% YoY. The 6-month average was USD184.6/ton, a 33.1% decline YoY. On July 8, 2025, Australian coking coal was quoted at around USD178/ton FOB, down USD 1 from early June.
Steel scrap: Domestic scrap prices in June 2025 rose by VND100–200/kg, staying at VND 8,100–9,100/kg. At East Asian ports, the average transaction price was USD333–335/ton. The monthly average was USD334.6/ton, down 10.71% YoY and slightly down 0.22% MoM. For the first 6 months of 2025, the average was USD339.6/ton, a 11.7% YoY drop. On July 8, 2025, East Asian port scrap was traded at USD335/ton, unchanged from early June.
Graphite electrodes: Prices are forecast to remain relatively stable in 2025. UHP450 electrodes (ultra-high power, commonly used in EAF steelmaking) were quoted at USD2,930–3,100/ton CFR Da Nang. Despite short-term fluctuations, the graphite electrode market is expected to grow in the long run, driven by demand from EAF steel and lithium-ion batteries for EVs.
Hot-rolled coil (HRC): On July 8, 2025, HRC was traded at USD491/ton CFR Vietnam, down USD 2 from early June, and significantly lower compared to early 2024. The 6-month average was USD495/ton, down 12.7% YoY. The June 2025 monthly average was USD494/ton, down 8.3% YoY and 1.5% MoM.
Production
• June 2025: Finished steel output reached 2.763 million tons, down 1.3% MoM but up 12.2% YoY.
• Q2/2025: 8.318 million tons, up 13.4% YoY.
• 6M/2025: 15.825 million tons, up 9.7% YoY.
Imports
According to Vietnam Customs:
• 6M/2025: 7.57 million tons of steel imported, down 7.94% YoY; value at USD5.38 billion, down only 2.12% YoY. Average import price was USD710.33/ton.
• June 2025: 1.16 million tons (USD833.7 million), down 9.63% MoM and 9.1% YoY in volume; average import price at USD714.58/ton.
Market breakdown (6M/2025):
• China: 4.43 million tons (58.47% share), sharply down 22.56% in volume.
• Indonesia: 670k tons, up 102% in volume but with lower value (-28.52%), now 8.84% market share.
• Japan: 1.2 million tons (+37.38% volume; -12.2% value).
• South Korea: 706k tons (+24.29% volume; -14.15% value).
• Taiwan: 423k tons (-6.59% volume).
• Other suppliers showed mixed trends: Malaysia (+93%), Australia (+69%), India (-95% volume but +318% value), Philippines (+4,000%), South Africa (+537%), Russia (+3,000%)… while traditional markets like the US, Spain, Netherlands, Austria, and Singapore recorded sharp declines.
Scrap Imports
• June 2025: 1.17 million tons (USD833.8 million), down 11.3% in volume and 9.6% in value MoM.
• Scrap steel specifically: 500,299 tons (USD167.3 million). Despite a slight monthly dip, total 6M/2025 reached 3.03 million tons (+24.2% YoY), reflecting steady demand from EAF steelmakers.
Finished Steel Imports
• June 2025: USD695.7 million.
• 6M/2025: USD3.6 billion, up 20.4% YoY, showing robust domestic demand from construction and manufacturing.
Domestic Consumption
• June 2025: 2.485 million tons of steel sold, down 13.79% MoM but up 5.1% YoY.
• Q2/2025: 8.254 million tons, up 8.7% YoY.
• 6M/2025: 15.727 million tons, up 10.2% YoY.
Exports
According to Vietnam Customs:
• 6M/2025: 5.66 million tons exported, earning USD 3.7 billion. This marked a 12.9% drop in volume and 22.6% drop in value YoY, due to lower average export price (USD653.9/ton, -11.14% YoY).
• June 2025: 931,365 tons (USD611 million), up 4.34% MoM but down 5.74% YoY in volume; average export price at USD656.6/ton.
Export markets (6M/2025):
• Cambodia: 764.6k tons (USD437.8m), +30.7% in volume and +17.8% in value, remaining Vietnam’s top market (13.5% share).
• Italy: 565.1k tons (USD358.7m), down 33.7% in volume.
• India: 486.7k tons (USD349.3m), up 280% in volume and +85% in value, rising to No.3 market.
• United States: 544.5k tons (USD 343.5m), sharply down 42% in volume and 56% in value.
• Other notable markets: Australia (+104% vol), Thailand (+129%), Germany (+2,030%), Bangladesh (+366%), and mainland China (+259%). Meanwhile, exports to Hong Kong (-88%), Philippines (-63%), Singapore (-62%), Japan (-50%), and Turkey (-52%) saw sharp declines.
✅ Summary:
• Raw material prices for steel (iron ore, coking coal, scrap, HRC) declined YoY, though electrodes stayed stable.
• Domestic steel prices stabilized, supported by public investment and anti-dumping measures.
• Production rose nearly 10% YoY, while imports fell, reflecting supply diversification away from China.
• Exports dropped in both volume and value due to falling global steel prices, although some markets (India, Cambodia, Germany) showed strong growth.
T.Huong
Source: Vitic