According to calculations based on data from Vietnam Customs, Vietnam exported 3.86 million metric tonnes of steel products in the January-April period, up 0.5% from a year earlier. Export revenue fell 0.5% to $2.48 billion as average export prices declined 1.0% to $642.08 per tonne.

The figures suggest global steel demand remains uneven across regions, keeping pressure on export prices despite stable shipment volumes.

In April alone, steel exports totaled 1.03 million tons, little changed from March but down 5.8% from the same month last year. Export revenue reached $680.1 million, down 2.5% from March and 4.2% year-on-year.

Average export prices stood at $659.90 per tonne in April, down 2.7% from the previous month but up 1.7% from a year earlier, indicating signs of annual price recovery despite persistent short-term pressure.

Cambodia remained Vietnam's largest steel export destination during the first four months of the year, importing 535,195 tonnes worth $305.8 million.

Shipments to Cambodia rose 8.2% in volume and 8.2% in value from a year earlier, accounting for 13.9% of Vietnam's total steel export volume and 12.3% of export revenue.

The United States ranked second, importing 516,632 tonnes valued at $300.6 million. Exports to the U.S. increased 33.2% in volume and 24.2% in value, making it one of the fastest-growing major destinations for Vietnamese steel.

The U.S. accounted for 13.4% of total export volume and 12.1% of export value during the period.

India emerged as one of the most valuable export markets, purchasing 270,014 tonnes of Vietnamese steel worth $281.8 million.

While export volume to India declined 7.2% from a year earlier, export value rose 37.3%, suggesting a shift toward higher-value steel products or improved pricing.

Indonesia also recorded strong growth, importing 400,028 tonnes worth $222.4 million, up 34.4% in volume and 30.2% in value.

Malaysia imported 280,677 tonnes valued at $172.6 million, representing increases of 17.7% and 14.2%, respectively.

The performance of ASEAN markets continued to support Vietnam's steel exports amid recovering regional demand.

Among European markets, Belgium posted solid growth with imports reaching 234,688 tonnes worth $145 million, up 29.3% in volume and 11.5% in value.

By contrast, exports to Italy fell sharply to 219,132 tonnes worth $131.2 million, down 31.2% in volume and 37.5% in value.

Shipments to Spain also weakened significantly, declining nearly 60% in both volume and value to 55,902 tonnes worth $42.4 million.

The figures indicate that steel demand across Europe remains uneven despite signs of recovery in selected markets.

Several markets posted triple-digit growth rates during the January-April period.

Exports to Poland surged 265% in volume and 189% in value to 115,735 tonnes worth $78.9 million.

Turkey imported 137,637 tonnes valued at $77 million, up 189% in volume and 233% in value.

Shipments to the Philippines jumped 415% in volume and 312% in value to 60,730 tonnes worth $29.8 million.

Russia recorded the strongest growth rate among all export destinations, with exports rising 639% in volume and more than 812% in value, although total shipments remained relatively small at 3,148 tons worth $4 million.

The strong expansion in these markets reflects recovering demand from the construction and manufacturing sectors, as well as the competitiveness of Vietnamese steel products in global markets.

Several traditional export destinations recorded sharp declines.

Exports to Australia fell 57.5% in volume and 53.2% in value to 61,900 tonnes worth $44.7 million.

Shipments to the United Kingdom dropped 57.5% in volume and 58.1% in value to 40,003 tonnes worth $26.2 million.

South Korea imported 101,502 tonnes valued at $63 million, with export value falling 47.6%, indicating a significant decline in average selling prices.

Germany recorded one of the steepest contractions. Exports plunged 97.5% in volume and 94.6% in value to just 1,569 tonnes worth $1.6 million.

Exports to Singapore also declined sharply, with shipment volume falling nearly 89% and export value down 73%.

Vietnam's steel exports in the first four months of 2026 were supported by strong growth in several emerging and regional markets, helping offset weaker demand in some traditional destinations.

While export volumes edged higher, lower average prices weighed on export earnings, highlighting continued pressure from intense competition and uneven global demand. Nevertheless, expanding market diversification and stronger sales to Southeast Asia, the United States and selected emerging economies helped sustain the sector's overall export performance.

Source: Vitic