AsemconnectVietnam - According to calculations from the Vietnam Customs Department, in 2025, Vietnam imported 16.09 million tonnes of iron and steel, worth approximately US$11.21 billion, a decrease of 9.16% in volume and a decrease of 10.9% in value compared to the same period in 2025.

This indicated a tendency for iron and steel import demand to stagnate, possibly due to the impact of reduced construction investment, the slow recovery of the real estate market, and the potential for increased domestic steel production.
In December of 2025 alone, Vietnam imported approximately 1.8 million tonnes of iron and steel, an increase of 19.74% compared to November of 2025 and 16.89% compared to the same period in 2024. The import value reached US$1.21 billion, an increase of 19.01% compared to November of 2025 and 12.17% compared to the same period in 2024.
The average import price reached US$666.92/tonne, a slight decrease of 0.61% compared to November of 2025 and a decrease of 4.04% compared to the same period in 2024, indicating that the increase in import volume was mainly due to increased demand, while prices tended to decrease.
Vietnam's main steel import markets in 2025
Throughout 2025, China continued to be Vietnam's largest source of steel, with 9.24 million tonnes, valued at US$5.81 billion, accounting for 57.45% in volume and 51.79% in value. However, compared to 2024, imports from this market decreased sharply by 22.52% in volume and 22.47% in value, clearly reflecting Vietnam's trend of diversifying its import sources and indicating that steel consumption demand has not yet fully recovered.
Indonesia ranked second with 1.51 million tonnes, valued at US$1.60 billion, representing a 79.79% increase in volume and a 26.85% increase in value compared to 2024. As a result, Indonesia's market share increased to 9.41% in volume and 14.3% in value, significantly higher than many other traditional markets. Notably, the much higher growth rate in volume compared to value indicates a downward trend in average import prices from Indonesia, helping domestic businesses reduce input costs. This strong increase reflects Indonesia's increasingly important role in Vietnam's iron and steel supply chain, especially as Vietnam proactively diversifies its import sources and leverages the advantages of regional trade agreements.
Meanwhile, Japan remained a large and stable supplier market, with 2.18 million tonnes, valued at US$1.43 billion, accounting for 13.57% in volume and 12.75% in value. Compared to 2024, import volume from Japan remained almost unchanged, decreasing only slightly by 0.29%, while value decreased by 4.97%, reflecting a downward trend in average import prices and a preference for more competitive suppliers among businesses.
The imports from South Korea reached 1.69 million tonnes, accounting for 10.53%, an increase of 18.96% in volume.
Besides key markets such as China, Indonesia, and Japan, the remaining markets accounted for only a small proportion (mostly below 2%) of Vietnam's total iron and steel imports in 2025, but the trends were quite distinct.
Some markets, although still small in scale, have recorded strong growth, notably Malaysia, Finland, Brazil, and Belgium. This showed that Vietnam is expanding and diversifying its supply sources, taking advantage of trade agreements and shifts in global supply chains.
However, iron and steel imports from many traditional markets have sharply decreased in both volume and value, such as the US, India, Austria, New Zealand, Singapore, and Hong Kong. This trend reflected the fact that domestic consumption demand has not yet recovered strongly, and also showed a shift in import strategy, prioritizing sources with more competitive prices and favorable logistics costs, especially in the Asian region.
Overall, in 2025, Vietnam's iron and steel imports were trending downwards in both volume and value. Although China remained the main supplier, the sharp decline from this market indicated a clear adjustment in the import structure.
At the same time, the significant increase from Indonesia and several new markets reflected efforts to diversify supply sources, gradually reduce the dependence on a single market, thereby help Vietnam improve its adaptability and be more proactive in the face of fluctuations in the domestic and international economic landscape.
CK
Source: VITIC