Overview of Vietnam Steel Industry – 8M 2025
• Consumption: In the first eight months of 2025, Vietnam’s finished steel consumption reached 21 million tons (+17.5% YoY), driven primarily by strong domestic demand (+42% YoY). The domestic market’s share rose to 83%, up from 69% in the same period last year, indicating robust internal demand, while exports remain constrained by ongoing protectionist measures.• Selling price: Steel prices have seen modest upward adjustments since early September 2025. Looking ahead, prices are expected to maintain their upward trend supported by: (1) higher iron ore costs (about 30% of total production costs), (2) rebounding demand from the domestic real estate sector, and (3) reduced competition pressure from low-priced Chinese steel following the implementation of AD20 anti-dumping duties.
• Investigation into wide-gauge steel tax evasion: The Ministry of Industry and Trade (MOIT) is preparing to launch an investigation into alleged anti-dumping duty evasion by Chinese wide-gauge HRC, following official petitions from Hoa Phat and Formosa. If initiated, this action would aim to protect domestic producers, prevent underpriced imports, and ensure fair market competition within Vietnam’s steel industry.
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