AsemconnectVietnam - Vietnam exported nearly 4 million tonnes of steel in the first four months of 2026, showing growth in both volume and value.

The average steel price in April reached US$706/tonne, an increase of more than 4% compared to the previous month.
According to data from the General Statistics Office, the Vietnamese steel industry recorded positive signals in the first four months of 2026 with synchronized growth in both production volume and export value. Notably, the export price of steel, after a period of volatility, began to show clear signs of recovery in April.
Export growth and price recovery trends
Overall, in the first four months of 2026, Vietnam's steel exports were estimated to reach 3.94 million tonnes, earning US$2.57 billion. Compared to the same period in 2025, steel exports increased by 2.65% and value increased by 2.98%. The average export price of steel during this period was estimated at US$651/tonne, a slight increase of 0.32% compared to the same period last year.
Specifically in April of 2026, although export volume reached approximately 1 million tonnes (a decrease of 2.85% compared to March), the value reached US$706.2 million, an increase of 1.21%. The biggest highlight is that the average export price of iron and steel in April was estimated at US$706/tonne, an increase of 4.18% compared to March of 2026 and an increase of 8.81% compared to April of 2025.
ASEAN and the US led growth
The ASEAN market continued to maintain its position as the largest trading partner of Vietnam's steel industry, accounting for 37.23% of total exports in Q1/2026. The total exports to this region reached nearly 1.1 million tonnes, worth US$632.3 million. Markets recording impressive growth include: Indonesia up by 36.51% in volume; Malaysia up by 30.96% in volume and the Philippines recorded a dramatic increase of 817.98% in volume, reflecting a strong market expansion trend.
The US remained the second largest export market with 463,770 tonnes in the first quarter of 2026, up by 32.72% in volume. Although the average export price to the US decreased by 6.39% to $560/tonne, improved demand shows that Vietnamese steel still maintains good competitiveness there.
The divergence between traditional and emerging markets
Contrary to the growth trend in ASEAN and the US, the EU market showed weakness. The exports to the EU in the first quarter of 2026 reached 460.97 thousand tonnes, a decrease of 8.6% in volume and 17.64% in value. The main reasons are low consumption demand in Europe and strict trade protection measures.
Notably, emerging markets such as India and Turkey are becoming new potential destinations. The exports to India increased by 83.55% in volume with very high export prices, reaching an average of $1,127/tonne. Turkey also recorded a production growth of up to 177.37%.
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Source: VITIC/ baodanang.vn