AsemconnectVietnam - In 2025, Vietnam's import value of iron and steel products was estimated to reach nearly US$8.31 billion, a 27.9% increase compared to 2024.

Meanwhile, iron and steel scrap imports in 2025 were estimated to reach 6.25 million tonnes, equivalent to US$2.03 billion, a 27.2% increase in volume and a 12.3% increase in value compared to 2024.
Vietnam's iron and steel product imports in December and the whole year of 2025
According to preliminary data from the Customs Department, iron and steel product imports into Vietnam in December of 2025 increased by 15.9% in value compared to November of 2025 and by 41.3% compared to December of 2024, reaching... US$870.8 million. For the whole year of 2025, the import value of this product group reached nearly US$8.31 billion, an increase of 27.9% compared to 2024.
Main import markets for iron and steel products in Vietnam in December and the whole year of 2025
Vietnam mainly imports iron and steel products from China, accounting for 73% of the total import value of this product group nationwide, a sharp increase of 33.6% compared to 2024, reaching over US$6.06 million. In December of 2025 alone, imports from China reached US$652.47 million, an increase of 14.6% compared to November of 2025 and a sharp increase of 51.6% compared to December of 2024.
In addition, Vietnam also imported iron and steel products from South Korea reached US$744.19 million, accounting for 9%, an increase of 6.6% compared to 2024. In December of 2025 alone, the imports from South Korea reached US$74.48 million, an increase of 16.4% compared to November 2025 and a 13.2% increase compared to December of 2024.
The imports from Japan in 2025 were estimated to reach US$451.3 million, an increase of 15.2% compared to 2024, accounting for 5.4% of the total import value. In December of 2025 alone, the imports from Japan reached US$40.35 million, an increase of 23% compared to November 2025 and a 23.4% increase compared to December of 2024.
The imports of iron and steel products from the EU market in 2025 were estimated to increase sharply by 35% compared to 2024, reaching US$242.67 million, accounting for 2.9% of the total import value of this product group nationwide; while the imports from Southeast Asian markets were projected to increase by 11.4%, reaching US$273.82 million, accounting for 11.4%.
Overall, imports of iron and steel products from most markets in 2025 were estimated to increase in value compared to 2024.
Vietnam's iron and steel scrap imports in December and the whole year of 2025
According to statistics from the Customs Department, in December of 2025, the country imported 683,854 tonnes of iron and steel scrap, equivalent to US$226.82 million, with an average price of US$331.7/tonne; increased sharply by 59.1% in volume and 59.4% in value compared to November of 2025. Compared to December of 2024, there was also an increase of 13.7% in volume and 7.7% in value, but a decrease of 5.3% in price.
Overall, in 2025, the imports of this product group reached 6.25 million tonnes, equivalent to 2.03 billion USD, an increase of 27.2% in volume and 12.3% in value compared to 2024. The average price for the whole year 2025 reached 325.2 USD/tonne, a decrease of 11.7% compared to 2024.
Main import markets for iron and steel products in Vietnam in December and the whole year of 2025
Imported scrap iron and steel into Vietnam mainly originates from Japan, reaching 3.3 million tonnes, equivalent to nearly 1.11 billion USD, with an average price of 338 USD/tonne; the imports from Japan accounted for 52.7% of the country's total scrap iron and steel imports and 54.8% of the total value, increasing by 26.8% in volume and 12.4% in value, but decreasing by 11.4% in price compared to 2024. In December of 2025 alone, the imports from Japan reached 327,892 tonnes, equivalent to over US$110.58 million, with an average price of US$337.3/tonne; a sharp increase of 47.8% in volume, 48.1% in value, and 0.2% in price compared to November of 2025. Compared to December of 2024, there were decreases in volume, value, and price, with reductions of 8.5%, 12.1%, and 4% respectively.
The second largest market supplying this product group to Vietnam was the United States, reaching 788,146 tonnes, equivalent to over $250.25 million, accounting for over 12% of the total volume and value, a sharp increase of 55.8% in volume and 38.8% in value compared to 2024. In December of 2025 alone, the imports from this market reached 98,724 tonnes, equivalent to over $31.35 million, with an average price of $317.6/tonne; a sharp increase of 136.7% in volume, 147.1% in value, and 4.4% in price compared to November of 2025. Compared to December of 2024, there was also an increase of 109.4% in volume, 103.6% in value, but a decrease of 2.7% in price.
Imports of scrap iron and steel from Hong Kong accounted for 6% of the total volume and value, reaching 374,373 tonnes, worth US$123.54 million, a sharp decrease of 32.2% in volume and 39.5% in value compared to 2024.
The imports from Australia accounted for 5.9% of the total volume and 6.3% of the total value, reaching 369,525 tonnes, worth of US$127.9 million, an increase of 8.8% in volume but a decrease of 3.1% in value.
Overall, in 2025, the imports of scrap iron and steel from most markets increased in value compared to 2024.
CK
Source: VITIC