Hot-rolled steel coil to make a strong breakthrough in 2026
Vietnam’s steel market is recording positive growth signals as the consumption of hot-rolled coil (HRC) increases sharply in the first months of 2026. In particular, HRC export activities have made a leap forward, reflecting the increasing competitiveness of Vietnamese steel enterprises in the international market.
According to data from the Vietnam Steel Association (VSA), in the first 4 months of 2026, the sales volume of hot-rolled steel coils will reach 3.33 million tons, up 25% over the same period last year. Notably, exports reached nearly 602 thousand tons, nearly doubling over the same period in 2025.
In April alone, HRC production reached more than 916 thousand tons, up 37% over the same period last year. This result shows that market demand is recovering strongly, and at the same time reflects the effectiveness of policies to protect the domestic steel industry.
Anti-dumping duties create incentives for domestic production
One of the important factors driving domestic HRC consumption is the trade remedies applied by Vietnam to imported steel.
From 2025, Vietnam has applied anti-dumping duties on hot-rolled coils imported from China with tariffs ranging from 23.1% to 27.8%. By the beginning of April 2026, the temporary tariff will continue to be raised to 27.83% for some broad-format HRC products.
Experts say that this policy has contributed to a significant reduction in cheap steel imports, creating conditions for domestic manufacturing enterprises to expand market share and increase operating capacity.
In addition, the wave of public investment and a series of key transport infrastructure projects being implemented across the country continue to become an important driving force to promote steel consumption demand.
Geopolitical tensions open up export opportunities
Not only benefiting from the domestic market, Vietnam’s steel industry also recorded great opportunities from fluctuations in the international market.
According to industry experts, the geopolitical tension in the Middle East has caused a significant decline in the export of steel plates (slabs) from Iran. This forces many steel rolling mills around the world to look for alternative sources of finished HRC.
Thanks to the increasing production capacity and stable supply, Vietnamese businesses have quickly taken advantage of the opportunity to expand exports. This is considered one of the main reasons for the sudden growth of export HRC in the first months of the year.
Many experts forecast that the demand for HRC imports from Vietnam may continue to remain high if the global geopolitical situation is not stable soon.
Vietnam’s steel market is recording positive growth signals as the consumption of hot-rolled coil (HRC) increases sharply in the first months of 2026
HRC prices increased sharply, putting pressure on downstream businesses
In parallel with the growth in output and exports, the price of hot-rolled steel coil is also in a strong upward trend.
The average HRC price in April 2026 will reach about 528.5 USD/ton, up 10% over the previous month and up nearly 19% over the same period in 2025. By mid-May, the transaction price had risen to about $610 per tonne.
Major domestic manufacturers such as Hoa Phat and Formosa Ha Tinh have continuously adjusted their selling prices to reflect the increase in input material costs as well as the upward trend in the world market.
However, this development has created significant pressure on enterprises of galvanized steel and downstream steel products. When the cost of raw materials accounts for a large proportion of the cost structure, the continuous increase in HRC prices makes many businesses forced to adjust product selling prices to maintain profits.
Recently, a series of galvanized steel sheet manufacturers have announced an increase in selling prices to offset the increased cost of raw materials.
Galvanized steel enterprises face many challenges
While construction steel manufacturers and HRCs are benefiting from growing domestic demand, the group of galvanized steel companies is facing more pressure.
In addition to the high cost of raw materials, businesses are also affected by anti-dumping investigations in many major export markets. Recently, Australia has considered the possibility of initiating an anti-dumping investigation on galvanized steel exported from Vietnam.
These developments are posing many challenges for businesses with a large proportion of exports, forcing them to continuously adjust their business strategies and expand markets to minimize risks.
Positive outlook but cautious
Experts assess that Vietnam’s steel market in 2026 still has a lot of room for growth thanks to the recovery of the construction industry and the accelerated speed of public investment disbursement.
However, the outlook of the industry will continue to depend on many factors such as world raw material price movements, the international trade situation, trade remedies policies and the ability of businesses to adapt to market fluctuations.
The strong growth of hot-rolled steel coils is opening up great opportunities for Vietnam’s steel industry. At the same time, improving competitiveness, diversifying export markets and controlling production costs will be the key to helping businesses maintain sustainable growth momentum in the coming period.
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