Steel is a two-way story in Vietnam. The country makes more of it every year, with crude steel output reaching a five-year high of 24.7 million tonnes in 2025, up about 12%, and total steel sales of about 24.1 million tonnes. It sells millions of tonnes abroad, from rolled coil to galvanised sheet. Yet it also imports a large amount of finished steel, especially hot-rolled coil and specialty grades, because local plants do not yet cover every product that its factories and building projects need.
This guide looks at both sides of the trade, using HS chapters 72 and 73. It explains what Vietnam exports, where the steel goes, what the EU buys, who supplies Vietnam's imports and how to search the records in Vietnam steel export data. Import-side shipments are in Vietnam import data.
Vietnam Steel: Key Numbers
The latest full-year export breakdown with market detail is for 2023, so it is used below alongside newer 2025 figures. Check the period column.
| Measure | Figure | Period |
|---|---|---|
| Crude steel production | 24.7 million tonnes, a five-year high, up about 12% | 2025 |
| Steel sales | About 24.1 million tonnes, up about 12.9% | 2025 |
| Steel exported | About 5.66 million tonnes, US$3.7 billion (volume down 13%, value down 22.5%) | First half of 2025 |
| Steel exported | 11.1 million tonnes, US$8.35 billion (volume up 32.6%, value up 4.5%) | Full year 2023 |
| Finished steel imported | About 13.3 million tonnes, over US$10.4 billion | Full year 2023 |
| Iron and steel imported (HS 72) | About US$8 billion | January to September 2025 |
| Iron and steel products imported (HS 73) | About US$5.9 billion | January to September 2025 |
The export decline in the first half of 2025 came from falling prices as well as volume. Production kept growing, which suggests that more steel was absorbed by the home market over the year.
HS Codes for Steel
Iron and steel are in chapter 72, and articles made of them, such as pipes, structures and fasteners, are in chapter 73. A complete search needs both.
| HS code | What it covers | Typical products |
|---|---|---|
| 7207 | Semi-finished products of iron or non-alloy steel | Billets and slabs |
| 7208 | Hot-rolled flat steel, 600 mm wide or more | Hot-rolled coil (HRC) |
| 7209 | Cold-rolled flat steel, 600 mm wide or more | Cold-rolled coil (CRC) |
| 7210 | Flat steel, plated or coated | Galvanised (GI) and pre-painted (PPGI) coil |
| 7213, 7214 | Hot-rolled bars and rods | Wire rod and rebar |
| 7216 | Angles, shapes and sections | I-beams, H-beams, angles |
| 7219, 7220 | Flat stainless steel | Stainless coil and sheet |
| 7304, 7306 | Tubes and pipes | Seamless and welded pipe |
| 7308 | Structures and parts of structures | Steel frames, towers, bridges |
| 7318 | Screws, bolts and nuts | Fasteners |
What Vietnam Exports: Rolled and Galvanised Steel
In 2023, rolled steel was the largest export, at about 4.2 million tonnes worth US$2.6 billion, or about 38% of volume. Galvanised steel added about 1.76 million tonnes worth US$1.45 billion. Coated and painted steel is used for roofing, appliances and light construction, which is why demand follows building cycles in Asia and Europe.
Where Vietnamese Steel Goes
ASEAN is the biggest buyer, led by Cambodia, Indonesia and Malaysia. The European Union is second, with Italy the largest buyer inside it, and the United States, India and the United Kingdom follow. China, once a large buyer, has almost dropped out.
| Market | 2023 volume | 2023 value | What stands out |
|---|---|---|---|
| ASEAN | About 3.5 million tonnes | About US$2.4 billion | Largest market, volume flat, value down 17% |
| European Union | About 2.55 million tonnes | About US$1.89 billion | Volume up 86%, Italy, Belgium and Spain lead |
| United States | About 1.08 million tonnes | About US$852 million | Volume up 59% |
| India | About 967,600 tonnes | About US$715 million | Volume up more than fourfold |
| United Kingdom | About 212,600 tonnes | About US$182 million | Volume up 70% |
| China | About 5,580 tonnes | About US$8.7 million | Down 94% in volume |
In the first half of 2024 the top three markets were ASEAN with about 26% of exports, the EU with about 25% and the United States with about 15%.
What the EU Buys from Vietnam
EU purchases of Vietnamese iron and steel were worth about US$1.94 billion in 2025, plus about US$950 million of articles made of iron and steel. Coated flat-rolled steel was by far the largest item.
| Product | EU imports, 2025 (approx.) | Typical HS code |
|---|---|---|
| Coated and plated flat-rolled steel | US$838 million | 7210, 7212 |
| Semi-finished steel | US$352 million | 7207 |
| Hot-rolled flat steel | US$248 million | 7208 |
| Cold-rolled flat steel | US$167 million | 7209 |
| Flat stainless steel | US$143 million | 7219 |
| Hot-rolled bars and rods | US$57 million | 7213, 7214 |
The Import Side: Why Vietnam Still Buys Steel
Vietnam's own mills cannot yet fill the demand for certain products. In 2023 the country needed about 12 to 13 million tonnes of hot-rolled coil a year while domestic output was around 9 million tonnes. That gap, plus demand for specialty and stainless grades, explains finished steel imports of over 13 million tonnes in 2023.
| Supplier | Share of 2023 finished steel imports | What it supplies |
|---|---|---|
| China | Over 62% of volume, 54% of value | Hot-rolled and coated flat steel, bars, sections |
| Japan | About 14% | High-grade flat steel, scrap and specialty grades |
| South Korea | About 8% | Flat steel and stainless products |
Reading Steel Terms in a Shipment Record
| Term in the record | Meaning | Why it matters |
|---|---|---|
| HRC, CRC | Hot-rolled and cold-rolled coil | Different surface and price, HRC is the benchmark |
| GI, GL, PPGI | Galvanised, aluminium-zinc coated and pre-painted coil | Higher price, used for roofing and appliances |
| Billet | Semi-finished square bar | Raw material for rebar and wire rod |
| Rebar, wire rod | Construction reinforcing bar, coiled wire | Commodity pricing, per tonne |
| SS400, Q235, SPCC | Common steel grade standards | Grade decides use and price |
| Thickness and width, in mm | Dimensions of flat products | Thinner and wider products cost more |
| Prime, secondary | First or second quality material | Secondary steel is sold at a discount |
Where Steel Is Made
Large integrated plants are in the north around Hai Phong, on the central coast at Ha Tinh and Dung Quat in Quang Ngai, and in the south-east near Ho Chi Minh City. Many exporters ship from Hai Phong, Da Nang and the southern ports of Cat Lai and Cai Mep.
How to Find Steel Exporters and Suppliers in the Records
- Pick the code. For exports, search 7208 to 7210 for flat steel, 7213 and 7214 for bars, and 7306 for pipes.
- Filter by product words such as "HRC", "GI", "PPGI", "rebar" or the grade name.
- Group by exporter and rank by tonnes shipped.
- Check the buyers. Mills shipping to Europe or India usually have wider quality documents than those selling only in the region.
- Compare price per tonne for the same product, size and grade.
- For the import side, search the same codes in import records to find Vietnam's buyers and which countries supply them.
- Verify the company with our guide on checking a supplier before you contact them.
What to Watch in 2026
- Price pressure: export values fell faster than volumes in 2025, so margins matter more than ever.
- Coated and value-added steel: galvanised and pre-painted products are the main growth area for exports.
- Import demand: imports of finished steel products were up about 28% in 2025, which shows strong building and factory demand.
- New capacity: new plants for hot-rolled coil may cut imports of flat steel over time.
Frequently Asked Questions
What is the HS code for steel?
Iron and steel are in HS chapter 72. Hot-rolled coil is 7208, coated steel is 7210 and bars are 7213 and 7214. Articles made of steel are in chapter 73.
How much steel does Vietnam export?
About 11.1 million tonnes worth US$8.35 billion in 2023, and about 5.66 million tonnes worth US$3.7 billion in the first half of 2025.
Who buys Vietnamese steel?
ASEAN is the largest buyer, followed by the EU, the United States, India and the United Kingdom.
Does Vietnam import steel?
Yes. It imports over 13 million tonnes of finished steel a year, mainly from China, Japan and South Korea.
Search Steel Trade Data
Ready to find steel exporters or buyers? Open Vietnam steel export data to search HS 72 and 73 by exporter, buyer and price per tonne, or use Vietnam import data for the supplier side. If you need help matching a grade to the right record, send us an enquiry.
Disclaimer: Vietnam Import Export Data provides shipment records and trade datasets. We do not buy or sell any products. For purchasing or selling enquiries, please contact the importers and exporters listed in our datasets.
