Vietnam’s steel imports declined by 6.2% in May compared to April, totaling 1.29 million metric tons (mt), according to newly released data from the General Department of Customs. Meanwhile, the country’s scrap metal imports plummeted 23.7% month on month to 500,184 mt, reflecting softer demand and possible inventory adjustments.
For the first five months of 2025, Vietnam imported 6.40 million mt of steel, representing a 7.7% decrease year-on-year, while scrap imports rose by 27.6% over the same period, reaching 2.53 million mt.
Scrap Imports: Japan Leads Surge, Hong Kong Plunges
Japan remained the largest scrap supplier to Vietnam in May, exporting 294,745 mt, a 94.0% increase year-on-year. Over the January–May period, scrap shipments from Japan surged to 1.41 million mt, up 38.9% year-on-year.
Other notable scrap sources include:
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Australia: May imports skyrocketed to 34,978 mt (over 1000% YoY increase), with a five-month total of 186,200 mt, up 57.3%.
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U.S.: May shipments were 57,093 mt (+22.8% YoY); YTD total: 245,900 mt (+28.3%).
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Hong Kong: Exports to Vietnam dropped sharply to 20,148 mt in May (-63.3% YoY), with year-to-date shipments falling 32.0% to 165,010 mt.
Steel Imports: China’s Share Shrinks, Indonesia and South Korea Gain Ground
China remained Vietnam’s top steel supplier, though its share has shrunk significantly. May steel imports from China fell to 702,586 mt, a 36.2% drop YoY, while total shipments from January to May hit 3.67 million mt, down 23.0%.
Other key suppliers showed mixed trends:
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Japan: 195,074 mt in May (+2.7% YoY); 1.03 million mt YTD (+39.2%).
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South Korea: 132,656 mt in May (+36.9% YoY); 618,143 mt YTD (+28.8%).
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Indonesia: 177,520 mt in May (+140.5% YoY); 623,933 mt YTD (+117.6%).
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Taiwan: 64,046 mt in May (+16.8% YoY); 358,911 mt YTD (-6.2%).
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India: Imports dropped to just 1,137 mt in May (-95.7% YoY); 6,074 mt YTD, down 96.6%.
VietnamSteel by Hoa Sen Group
