AsemconnectVietnam - In July of 2026, Vietnam's iron and steel imports reached 1.37 million tonnes valued at US$1.07 billion; a 4.8% decrease in volume but a 2.8% increase in value compared to June of 2026, and an increase of 18.97% in volume and 26.08% in value compared to July of 2025.

For the first seven months of 2026, Vietnam's iron and steel imports totaled 9.06 million tonnes valued at US$6.68 billion, marking a 4% increase in volume and a 7.5% increase in value year-on-year. The average import price of iron and steel during this period was US$738 per tonne, up by 3.35% compared to the same period of 2025.
In the first seven months of 2026, Vietnam's iron and steel imports remained heavily concentrated in a few Asian markets. The imports from China alone accounted for 49.75% of the total volume and 46.27% of the total value of Vietnam's iron and steel imports. Meanwhile, imports from five key markets, such as China, Japan, ASEAN, India, and South Korea accounted for 92.06% of the volume and 92.6% of the value of Vietnam's total iron and steel imports.
China remained Vietnam's largest source of iron and steel imports during the first seven months of 2026; however, its share of Vietnam's total iron and steel imports contracted from 58.74% in the same period of 2025 to 49.75% in 2026. The imports from China totaled 4.51 million tonnes valued at US$3.09 billion, representing a decline of 11.92% in volume and 4.79% in value compared to the same period of 2025. The average import price from China stood at US$686 per tonne, an increase of 8.1% year-on-year.
Japan remained Vietnam's second-largest source of iron and steel imports during the first seven months of 2026, accounting for 12.15% of the volume and 11.5% of the value of Vietnam's total iron and steel imports. The imports from Japan reached 1.1 million tonnes valued at US$768.88 million, down by 19.14% in volume and 12.63% in value compared to the same period of 2025. The average import price from Japan was US$698 per tonne, up by 8.05% year-on-year.
ASEAN also emerged as a market showing notable growth within Vietnam's iron and steel import structure during the first seven months of 2026, accounting for 10.74% of the total volume and 17.68% of the total value of Vietnam's iron and steel imports. In the first seven months of 2026, Vietnam's iron and steel imports from ASEAN reached 973,060 tonnes valued at US$1.18 billion, marking increases of 18.99% in volume and 23.16% in value compared to the same period of 2025.
India was one of the markets showing the strongest growth for Vietnam's iron and steel imports during this seven-month period. The imports from India totaled 893,750 tonnes valued at US$479.2 million, skyrocketted by 9,095.87% in volume and 1,564.81% in value year-on-year, indicating a trend toward market diversification and a shift away from traditional sources such as China and Japan. The average import price of iron and steel from India stood at US$536 per tonne, a decrease of 81.9% compared to the same period in 2025.
South Korea remained a key market for Vietnam's iron and steel imports during the first seven months of 2026, particularly for products requiring high quality and strict technical standards. In the first seven months of 2026, Vietnam's iron and steel imports from South Korea totaled 864,950 tonnes valued at US$667.6 million, marking a 3.67% increase in volume but a 2.27% decrease in value compared to the same period of 2025. The average import price from South Korea stood at US$772 per tonne, down by 5.74% year-on-year.
The imports from Taiwan reached 644,640 tonnes valued at US$411.54 million, representing increases of 33.35% in volume and 25.64% in value compared to the same period of 2025. Meanwhile, the average import price from Taiwan was US$638 per tonne, a decline of 5.79% year-on-year. Taiwan has emerged as one of the fastest-growing sources among Vietnam's key iron and steel import markets, ranking second only to India in terms of import volume growth.
Vietnam's iron and steel imports from the EU in the first seven months of 2026 totaled 37,750 tonnes, valued at US$57.13 million, an increase of 171.03% in volume and 26.3% in value compared to the same period in 2025. Notably, the average import price of iron and steel from the EU stood at US$1,513 per tonne, more than double the market-wide average of US$738 per tonne. This indicates that imports from the EU consist primarily of high-quality steel, specialty steel, or products requiring advanced technology and technical standards that domestic production capacity cannot yet fully meet.
While markets such as Australia, the United States, South Africa, and Canada have shown significant fluctuations compared to the same period of 2025, their import volumes remained small and supplementary, and did not play a stabilizing role in Vietnam's steel import structure.
Source: VITIC