Signs of Recovery Amidst Global Competition
Following a period of significant volatility in the global steel market, Vietnam’s steel exports in the first few months of 2026 are showing noteworthy signs of recovery. Despite still facing intense competition, trade barriers, and uneven recovery in demand across regions, the Vietnamese steel industry has maintained its growth momentum in both production volume and export value.
- Vietnam’s Steel Industry Strengthens Domestic Trade Defenses and Enhances Internal Capacity for Breakthroughs in the New Era
- Breaking News: Ministry of Industry and Trade Takes Strong Action, Imposing Nearly 28% Tariff on Chinese HRC Steel: Protecting the Domestic Steel Industry from the Wave of Cheap Imports
- Global Steel Market at the Beginning of 2026: Oversupply Remains Unsettled, Competition Intensifies
Vietnam’s Iron and Steel Exports Exceed $2.5 Billion After 4 Months
Vietnam’s steel exports are on a good growth trajectory in 2026, thanks to supportive government policies and improvements in the global supply chain.
According to the latest statistics from the statistical agency, in the first four months of 2026, Vietnam exported approximately 3.94 million tons of iron and steel, earning 2.57 billion USD, an increase of 2.65% in volume and nearly 3% in value compared to the same period last year. Steel exports are showing great potential in the international market.
The most notable point lies in the recovery trend of export steel prices after several quarters of decline. In April 2026 alone, the average export price of steel rose to $706 per ton – the highest level since the beginning of the year, an increase of over 4% compared to the previous month and nearly 9% compared to the same period in 2025.
This development indicates that the global steel market is gradually establishing a new price level after a prolonged period of oversupply. Although export volume decreased slightly in April, improved selling prices helped export revenue continue to grow.
Chart: Vietnam’s steel export situation to some major markets in Q1/ 2026
ASEAN Continues to Be a “Support System” for Vietnamese Steel
The ASEAN region continued to be the largest consumer market for Vietnamese steel in the first quarter of 2026, accounting for over 37% of total exports.
Exports to this region reached nearly 1.1 million tons, valued at over $632 million, a significant increase compared to the same period last year. In particular, the Philippine market recorded a surge in growth, reflecting the strong recovery in construction and infrastructure investment demand in that country.
In addition, markets such as Indonesia and Malaysia also maintain high growth rates, continuing to create significant opportunities for Vietnamese steel companies to expand their market share in the region.
Amidst increasingly stringent trade protection measures in many major markets, ASEAN is becoming a strategic region due to its geographical proximity, competitive logistics costs, and stable consumer demand.
The ASEAN region continued to be the largest consumer market for Vietnamese steel in the first quarter of 2026.
The US maintains growth momentum, while the EU continues to contract.
The United States is currently Vietnam’s second-largest steel export market. In the first quarter of 2026, steel exports to this market increased by more than 32% compared to the same period last year.
However, the average export price to the US has decreased significantly due to price competition and increasingly stringent technical requirements. Nevertheless, maintaining growth in this market is still considered a positive sign, indicating that the competitiveness of Vietnamese steel companies is gradually improving.
In contrast to the US, the European Union market continues to experience a downward trend. Steel consumption demand in Europe remains low due to the slow recovery of industrial production, while increasingly stringent carbon emission regulations and technical standards are making it more difficult for Vietnamese businesses to maintain exports.
Expanding into South Asia and the Middle East
One of the notable highlights of Vietnam’s steel industry in early 2026 is the trend towards diversifying export markets.
India has emerged as a potential market with very high growth rates in both volume and value. Notably, it is also the market that records the highest export prices for Vietnamese steel, reflecting significant potential for high value-added steel products.
Similarly, the Turkish market also recorded impressive growth, indicating a clearer trend of Vietnam’s steel industry shifting its trade to the Middle East and South Asia.
Expanding into new markets is considered a necessary strategy in the context of increasingly fierce global competition and shrinking growth potential in traditional markets.
Challenges Still Remain
Despite many positive signs, Vietnam’s steel exports in 2026 will still face numerous challenges.
The supply of cheap steel from China continues to put significant pressure on the regional market. In addition, the increasing trend of trade protection measures, environmental standards, and traceability requirements in major markets is forcing Vietnamese businesses to invest more heavily in production technology, quality control, and long-term market strategies.
Experts believe that the outlook for steel exports in the remainder of 2026 will largely depend on the pace of global economic recovery, developments in input material prices, and the ability of businesses to adapt to changes in global trade.
However, with the recovery in selling prices, the strategy of expanding into new markets, and increasingly improved production capacity, the Vietnamese steel industry is still expected to maintain its position as one of the key industrial export sectors in 2026.
Learn More
1. Chemicals for the Coiled Steel Industry .
2. Pre-treatment Chemicals
3. Chemicals for Hot-Dip Galvanizing (HDG)
4. Specialized Information
| NEW ARTICLE |
DK-Chemicals: Metal surface pretreatment solutions for industry
DK-Chemicals provides chemical surface treatment solutions for metals serving the aluminum, galvanized sheet, color-coated steel, coil-coating, and related industrial applications.
With a focus on providing advanced, environmentally friendly technologies that meet modern production requirements, DK-Chemicals partners with customers in selecting suitable pre-treatment solutions, optimizing surface quality, and enhancing product durability after coating.
Contact DK Chemicals’ technical team today for detailed advice .
DK Chemical Company Limited
Address: 50 Street No. 12, Cityland Park Hills Residential Area, Go Vap Ward, Ho Chi Minh City
Hotline: 0909678599
Email: de@dk-chemicals.vn
