Construction steel prices in the three regions (as of 20 November 2025)
· Northern Region
o Hòa Phát CB240 coil: VND13,500/kg (unchanged)
o Việt Ý CB240 coil: VND13,640/kg (unchanged)
· Central Region
o Hòa Phát CB240 coil: VND13,500/kg (unchanged)
o Việt Đức CB240 coil: VND13,650/kg (unchanged)
· Southern Region
o Hòa Phát CB240 coil: VND13,500/kg (unchanged)
o VAS CB240 coil: VND13,130/kg (unchanged)
Production
According to the Vietnam Steel Association (VSA), finished steel output in September 2025 reached 2.63 million tonnes, up 10% year on year. Cumulatively, output in the first nine months reached nearly 23.9 million tonnes, up 9%, indicating a stable recovery of the steel industry.
Within the product structure, construction steel maintained its dominant position with 1.08 million tonnes produced in September, up 23% year on year. In the first nine months, construction steel output reached 9.63 million tonnes, up 11%, driven by demand from public investment and infrastructure projects.
In Q3 2025 alone, finished steel output reached over 8.06 million tonnes, increasing 8.4% from the same period last year.
Imports
According to the General Department of Vietnam Customs, Vietnam imported 12.71 million tonnes of iron and steel in the first ten months of 2025, with a total value of USD8.96 billion, down 13.54% in volume and 14.5% in value year on year. The average import price stood at USD704.38/tonne, down 1.11%, reflecting weakened domestic demand and a strategic shift among manufacturers to better control costs and reduce dependence on traditional suppliers.
In October 2025 alone, imports reached 1.52 million tonnes, up 33.5% month on month but down 36.83% year on year. Import value reached USD996.3 million, up 23.91% month on month but down 33.97% year on year. The average price was USD653.78/tonne, down 7.18% from September but up 4.53% year on year.
China continued to be the largest supplier, accounting for nearly 59% of import volume and 52% of import value, though import volume dropped over 26%, indicating Vietnam’s ongoing diversification efforts.
Indonesia emerged strongly as an alternative source, supplying 1.01 million tonnes (+57.74% year on year), thanks to competitive pricing and ample supply.
Japan remained a key supplier with 1.82 million tonnes (+7.24%), accounting for 14.32% of total imports, while the average value decreased slightly, enhancing competitiveness against Chinese and ASEAN-origin steel.
Other notable trends:
· South Korea: strong growth in both volume and value, serving high-quality steel demand.
· Taiwan: slight increase in volume, demonstrating stable regional supply.
· Southeast Asia: Philippines and Malaysia contributed to diversification, albeit at smaller scale.
· Europe & North America: mixed performance, with strong spikes from Spain, Finland, Sweden, South Africa due to project-based demand, while imports from the US, Canada and some EU countries declined due to high logistics costs and less competitive pricing.
Scrap Imports
From 1–15 November 2025, Vietnam imported 186,797 tonnes of steel scrap at an average price of USD328/tonne CFR, down USD1 from late October. In October, average prices reached USD329.2/tonne, up USD10 from September, while import volumes rose 6.9%, reflecting strong production demand amid limited domestic scrap availability.
From January to 15 November 2025, total scrap imports reached 5.33 million tonnes, up 30.3% from the same period of 2024. Japan remained the largest source (53.5%), followed by the US (13%) and Hong Kong (6%).
Vietnam’s iron and steel imports – First ten months of 2025

Market	Jan–Oct 2025		Change vs Jan–Oct 2024 (%)		Share (%)
Volume (tonnes)	Value (USD)	Volume	Value	Volume	Value
Total	12,717,387	8,957,823,714	-13.54	-14.50	100	100
China (Mainland)	7,484,643	4,687,956,939	-26.37	-26.47	58.85	52.33
Indonesia	1,017,667	1,220,483,661	57.74	19.92	8.00	13.62
Japan	1,821,614	1,195,499,944	7.24	-0.29	14.32	13.35
South Korea	1,307,145	1,039,372,498	24.13	7.77	10.28	11.60
Taiwan (China)	760,343	508,055,238	4.46	-5.16	5.98	5.67
Malaysia	151,165	84,729,111	544.52	275.47	1.19	0.95
India	13,402	40,948,162	-94.71	-77.45	0.11	0.46
Thailand	33,855	38,573,003	-22.68	-31.76	0.27	0.43
Germany	6,638	19,849,078	77.53	52.31	0.05	0.22
Australia	40,504	17,550,141	19.20	4.98	0.32	0.20
Sweden	5,782	16,763,646	59.42	46.04	0.05	0.19
France	1,144	15,015,703	77.64	-7.93	0.01	0.17
South Africa	28,027	12,633,271	188.76	137.92	0.22	0.14
United States	2,661	12,407,314	-51.28	-20.94	0.02	0.14
Philippines	2,393	12,210,034	194.34	169.46	0.02	0.14
Finland	1,521	3,414,388	555.60	359.87	0.01	0.04
Spain	2,146	3,297,908	22.63	36.69	0.02	0.04
Italy	1,028	2,403,176	172.68	95.79	0.01	0.03
Belgium	3,351	2,271,162	101.87	14.49	0.03	0.03
United Kingdom	3,320	1,815,789	131.20	65.88	0.03	0.02
Netherlands	1,815	1,444,090	44.62	-20.12	0.01	0.02
Turkey	1,059	1,364,547	-12.91	-11.39	0.01	0.02
Austria	247	1,047,216	-71.31	-88.23	0.00	0.01
Canada	501	705,881	-12.72	123.58	0.00	0.01
Russia	733	691,687	54.64	87.48	0.01	0.01
New Zealand	1,349	611,060	-65.58	-67.01	0.01	0.01
Poland	231	585,371	61.54	134.37	0.00	0.01
Mexico	439	400,214	-68.17	-65.05	0.00	0.00
Brazil	362	359,080	358.23	164.80	0.00	0.00
Saudi Arabia	68	117,818	-60.69	-23.55	0.00	0.00
Denmark	34	91,478	-35.85	-33.80	0.00	0.00
Singapore	37	69,449	-92.16	-85.72	0.00	0.00
Hong Kong (China)	20	40,565	-69.70	-61.12	0.00	0.00

Domestic Consumption
According to VSA, finished steel sales reached over 2.53 million tonnes in September 2025, up 1% year on year. In the first nine months, total sales reached 23.25 million tonnes, up 7%.
Construction steel continued to lead consumption with over 1.07 million tonnes sold in September (+15%). In the first nine months, cumulative sales reached nearly 9.73 million tonnes, up 12%, driven mainly by infrastructure and public investment projects. This segment remained the most stable in 2025, offsetting declines in flat steel consumption.
Exports
According to Vietnam Customs, steel exports reached 8.57 million tonnes valued at USD5.64 billion in the first ten months of 2025, down 22.25% in volume and 29.18% in value year on year. The sharper decline in value indicates a significant drop in average export prices amid global market challenges.
In October 2025:
· Export volume: 677,228 tonnes (–12.45% MoM; –37.61% YoY)
· Export value: USD464.4 million (–6.54% MoM; –37.98% YoY)
· Average price: USD685.81/tonne (+6.75% MoM; –0.6% YoY)
Cambodia remained the top export market, reaching 1.23 million tonnes (+26.42%), valued at over USD707 million (+16.19%). Cambodia accounted for 14.41% of export volume and 12.54% of export value—one of the few bright spots amid widespread declines in major markets such as the US, Japan, and the EU.
Other key markets:
· Italy: 925,946 tonnes (–22% YoY)
· India: 773,823 tonnes (+9.96% YoY), although value declined
· US: steep declines over 52% in volume and 61% in value
· Several markets including Japan, Brazil, Spain, Turkey, and Indonesia also saw sharp drops
· Small markets such as Germany, Russia, Bangladesh, and Argentina posted strong growth but remained too small to significantly influence overall performance.

Market	Volume			Value
	Volume (tonnes)	% change vs Jan–Oct 2024 (Volume)	Share of Volume (%)	Value (USD)	% change vs Jan–Oct 2024 (Value)	Share of Value (%)
Total	8,575,100	-22.25	100	5,637,864,766	-29.18	100
Cambodia	1,235,536	26.42	14.41	707,098,682	16.19	12.54
Italy	925,946	-22	10.80	577,956,623	-22.42	10.25
India	773,823	9.96	9.02	561,452,357	-8.75	9.96
United States	720,847	-52.61	8.41	469,197,158	-61.64	8.32
Malaysia	532,165	-26.65	6.21	343,200,583	-29.33	6.09
Taiwan (China)	437,590	4.89	5.10	295,950,454	0.60	5.25
Belgium	395,304	-43.22	4.61	291,355,335	-45.84	5.17
Indonesia	478,943	-8.05	5.59	286,740,848	-15.68	5.09
Spain	310,310	-51.56	3.62	229,468,411	-53.43	4.07
Australia	351,812	47.63	4.10	218,459,926	33.02	3.87
Korea	218,898	-20.49	2.55	211,432,265	-37.17	3.75
Thailand	259,668	82.63	3.03	196,956,541	55.59	3.49
United Kingdom	137,108	-46.78	1.60	96,187,144	-50.77	1.71
Philippines	178,818	1.77	2.09	84,582,614	-8.11	1.50
Poland	95,277	60.01	1.11	80,923,034	34.94	1.44
Brazil	147,558	-55.68	1.72	77,615,556	-60.36	1.38
Turkey	67,982	-68.23	0.79	61,023,566	-43.54	1.08
Japan	46,965	-54.25	0.55	54,715,535	-34.88	0.97
Laos	58,703	71.51	0.68	42,891,146	74.39	0.76
Germany	64,735	1,484.70	0.75	31,836,343	508.88	0.56
Singapore	52,248	-73.88	0.61	30,470,492	-71.61	0.54
Mainland China	17,083	224.53	0.20	23,224,155	180.72	0.41
UAE	9,216	-68.37	0.11	9,323,963	-46.6	0.17
Saudi Arabia	9,216	16.88	0.11	6,874,585	6.18	0.12
Russia	7,207	718.98	0.08	5,838,217	501.55	0.10
Hong Kong (China)	10,525	-88.09	0.12	5,027,337	-89.75	0.09
Myanmar	4,841	-35.35	0.06	3,912,499	-40.93	0.07
Argentina	4,687	2,353.93	0.05	2,868,837	715.74	0.05
Kuwait	2,117	2,685.53	0.02	1,598,549	1,826.68	0.03
Bangladesh	1,261	624.71	0.01	965,224	407.70	0.02
Pakistan	86	-30.65	0.00	149,636	-11.41	0.00
Egypt	69	-92.05	0.00	73,876	-91.97	0.00