April 22, 2025 — Vietnam's steel industry kicked off the year with solid gains in both production and sales, according to the Vietnam Steel Association (VSA), signaling a robust recovery in domestic demand and industrial activity.
In March 2025, Vietnam's finished steel production surged to 2.69 million metric tons (mt) — an increase of 25.3% compared to February and 15.0% higher than in March 2024.
Steel sales in March followed a similar trend, climbing 25.6% month-on-month and rising 26.4% year-on-year to 3.02 million mt. This marks one of the strongest monthly performances for Vietnam’s steel market in recent years.
For the first quarter (January–March) of 2025, the country produced a total of 7.46 million mt of steel, representing a 5.7% year-on-year increase, while total sales reached 7.5 million mt, up 12.2% from Q1 2024.
However, the trade picture remains mixed. In February 2025, Vietnam's imports of finished steel jumped 64.1% month-on-month and 33.8% year-on-year to 1.56 million mt, reflecting heightened domestic demand.
At the same time, exports of finished steel fell to 828,000 mt, a decline of 9.8% compared to January and down 16.7% from February 2024 — highlighting challenges in maintaining competitiveness abroad amid global supply shifts.
Analysts point to infrastructure growth and manufacturing expansion as key drivers of domestic demand, while cautioning that rising imports and falling exports could strain the trade balance if trends continue.
VietnamSteel by Hoa Sen Group
