AsemconnectVietnam - Vietnam's steel imports fell slightly in the first four months of 2026 as weaker purchases from China and Japan outweighed gains from alternative suppliers, although higher global prices helped keep import spending broadly stable.

According to calculations based on data from Vietnam Customs, the country imported 5.04 million metric tons of steel products in January-April, down 1.45% from a year earlier. Import value, however, rose 0.15% to $3.61 billion as average import prices increased 1.63% to $716.28 per ton.
The figures suggest Vietnam's domestic steel demand has yet to recover evenly across sectors, while elevated international steel prices continue to support import values despite lower volumes.
April imports reached 1.42 million tons, up 14.9% from March and 3.6% from the same month last year. Import spending exceeded $1 billion, rising 13.1% month-on-month and 4.7% year-on-year.
The increase was driven by stronger demand for steel inputs from manufacturing and construction activities during the peak building season, alongside precautionary purchases by companies amid uncertainty in global steel markets.
Average import prices in April stood at $706.82 per ton, down 1.5% from March due to increased regional supply and stronger price competition among Asian exporters. However, prices remained 1% higher than a year earlier.
China remains dominant supplier despite sharp decline
China retained its position as Vietnam's largest steel supplier during the first four months of the year, shipping 2.25 million tons worth $1.52 billion.
Chinese products accounted for 44.6% of Vietnam's total steel import volume and nearly 42% of total import value. However, imports from China fell 24.4% in volume and 19.1% in value compared with the same period last year.
The decline reflects efforts by Vietnamese importers to diversify supply sources and reduce reliance on Chinese steel, while domestic demand recovery remains uneven.
Indonesia and India gain market share
Indonesia ranked as Vietnam's second-largest steel supplier, exporting 579,261 tons worth $652.2 million, up 29.8% in volume and 26.8% in value from a year earlier.
Although Indonesia supplied less steel than Japan by volume, its export value was significantly higher, indicating a higher average unit price or a greater share of higher-value steel products.
Japan supplied 646,980 tons valued at $433.2 million, down 22.7% in volume and 18.2% in value. Japanese steel accounted for 12.8% of Vietnam's total import volume.
South Korea exported 524,876 tons of steel to Vietnam, up 8.2% in volume, although import value slipped 1.3%, suggesting lower average prices amid intensifying regional competition.
India recorded the strongest growth among major suppliers. Vietnam imported 601,479 tons of steel from India worth $308.1 million, representing increases of more than 12,000% in volume and over 2,000% in value from a year earlier.
The surge reflects a clear shift in Vietnam's sourcing strategy as companies seek alternative suppliers following the sharp decline in imports from China. Competitive pricing and stable supply conditions also helped boost Indian shipments.
India's share of Vietnam's total steel import volume rose to nearly 12%, making it one of the country's leading suppliers.
Asia continues to dominate Vietnam's steel imports
Several smaller suppliers also posted strong growth rates. Imports from Malaysia increased 646.6% year-on-year, while shipments from Belgium, the Netherlands and Denmark rose 761.6%, 860.5% and more than 8,400%, respectively.
By contrast, imports from Australia fell 51.2%, while purchases from South Africa and Canada dropped more than 90%.
Asian suppliers continued to dominate Vietnam's steel import market. China, Indonesia, Japan, South Korea, India and Taiwan collectively accounted for approximately 97.5% of total import volume during the January-April period.
The data indicate Vietnam is increasingly diversifying its steel supply sources, even as the country remains heavily dependent on Asian producers. While import volumes declined slightly from a year earlier, higher prices helped maintain overall import spending, reflecting a global steel market that remains relatively firm.
Vietnam scrap imports rise in April as Hong Kong shipments rebound
Vietnam's scrap imports rose in April from the previous month, supported by stronger arrivals from several markets, although shipments from its largest supplier, Japan, continued to decline.
According to data from Vietnam Customs, Vietnam imported 641,118 metric tons of scrap in April, up 15.3% from March. In the first four months of 2026, total scrap imports reached 2.13 million tons, an increase of 4.6% from the same period a year earlier.
Japan remained Vietnam's largest supplier of scrap, accounting for 283,035 tons in April and about 1.02 million tons during the January-April period.
However, imports from Japan fell 17.4% year-on-year in April and were down 9.8% in the first four months of the year, indicating a gradual decline in shipments from Vietnam's traditional source of supply.
Australia ranked as the second-largest supplier, exporting 55,337 tons of scrap to Vietnam in April, up 10.4% from a year earlier. Nevertheless, cumulative shipments in the first four months fell 24.9% to 113,615 tons, suggesting that April's recovery has yet to reverse the broader downward trend.
The United States was the third-largest supplier, with exports to Vietnam totaling 43,150 tons in April, down 11.1% from the same month last year. Imports from the U.S. reached 164,046 tons in the January-April period, a decline of 13.1%, reflecting weaker purchasing activity from that market.
Hong Kong posted the strongest growth among major suppliers in April. Vietnam imported around 42,250 tons of scrap from the territory, up 36.9% year-on-year. Despite the strong monthly performance, cumulative imports in the first four months slipped 1.5% to 142,726 tons.
The data suggest that scrap imports from Hong Kong have begun to recover in recent months after a weaker start to the year.
Overall, Vietnam's scrap imports showed modest growth during the first four months of 2026, although supply trends varied significantly among key exporting markets. While Japan remained the dominant supplier despite declining shipments, Hong Kong emerged as a bright spot, recording the strongest recent growth among Vietnam's major sources of imported scrap.
Source: Vitic