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According to preliminary statistics from the General Department of Vietnam Customs, the country’s iron and steel exports in April reached over 1.09 million tons, with a turnover of more than 709 million USD, up 8.4% in volume and 10.4% in value compared to the previous month.
Cumulative in the first four months of the year, Vietnam exported more than 3.8 million tons of iron and steel, with a turnover of over 2.49 billion USD, down 12.4% in volume and 23.1% in value compared to the same period in 2024.
In terms of market, Cambodia is currently the largest importer of Vietnamese iron and steel, with over 494 thousand tons and a value of more than 282 million USD, up 37% in volume and 22% in value compared to the same period last year. The average export price was 571 USD/ton, down 11% over the same period last year.
The US was the second largest market, with over 387 thousand tons and a value of more than 242 million USD, however, this marked a decrease of 31% in volume and 52% in value compared to the previous year. Prices fell by 30%, to 624 USD/ton.
Italy was the third largest export market, with over 318 thousand tons and a value of over 209 million USD, down 46% in volume and 44% in value. The average price was 659 USD/ton, up 5%.
According to a report from the General Department of Vietnam Customs and the Cambodia Directorate of Customs and Excise (GDCE), this Southeast Asian country imported a total of 217 million USD worth of iron and steel in the first quarter of 2025, up 75% from the same period in 2024.
In the domestic market, steel prices have recently fluctuated. Specifically, according to SteelOnline.vn, at the end of May, Hoa Phat’s CB240 coil steel price decreased by VND 140,000/ton to VND 13.65 million/ton, while the price of D10 CB300 ribbed steel bars increased by VND 50,000/ton to VND 13.79 million/ton.
Similarly, Viet Duc Steel reduced the price of CB240 coil steel by VND 250,000/ton to VND 13.35 million/ton, while keeping the price of D10 CB300 at VND 13.35 million/ton. In contrast, Thai Nguyen Steel increased the price of D10 CB300 by VND 310,000/ton to VND 14.08 million/ton, while maintaining the price of CB240 coil steel at VND 13.97 million/ton.
It is predicted that Vietnam’s steel production and consumption in 2025 will reach 32.9 million tons and 32.5 million tons, respectively, up 12% and 11% compared to 2024, thanks to the growth in the value of civil construction and low industry inventory. Domestic sales and export growth are expected to reach 14% and 3%, respectively. Domestic steel product prices are forecast to increase by 5%–8% in 2025.
Regarding the tariff issues with the US, the representative of the Vietnam Trade Office (Ministry of Industry and Trade) in the US stated that any adjustment in tax policies will impact the export market. Therefore, Vietnamese enterprises need to assess the situation and develop appropriate business strategies, diversifying their exports to markets with FTAs with Vietnam and reducing dependence on a single market.
It is crucial to comply with US regulations on rules of origin and actively participate in the investigation process of trade remedy cases conducted by US agencies. Close coordination with the Ministry of Industry and Trade (Trade Remedies Authority) and diplomatic representative agencies abroad is essential to monitor the situation and respond appropriately.
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