The Vietnam steel industry has reached a significant milestone by entering the world’s top 10 steel-producing countries for the first time. This achievement reflects the country’s expanding industrial capacity, increasing self-sufficiency, and growing importance in global manufacturing and supply chains.

Vietnam Moves into the Global Top 10

According to the World Steel Association (Worldsteel), Vietnam produced an estimated 2.1 million tons of crude steel in April 2026, up 4% compared to the same period last year. With this output, Vietnam surpassed Italy to secure a place among the world’s ten largest steel-producing nations.

During the first four months of 2026, Vietnam’s crude steel production reached 8.5 million tons, representing an 8.4% increase year-on-year. The continued growth demonstrates the strong momentum of the Vietnam steel industry despite ongoing global economic uncertainties.

From Import Dependence to Production Self-Sufficiency

Over the past two decades, the Vietnam steel industry has undergone a remarkable transformation. In the early 2000s, domestic steelmakers largely depended on imported billets to manufacture construction steel. Today, Vietnamese producers have developed comprehensive production capabilities across a wide range of steel products.

Local manufacturers can now supply steel for mechanical engineering, shipbuilding, renewable energy projects, infrastructure development, and even defense-related industries. This progress has strengthened Vietnam’s industrial foundation and reduced reliance on imported materials.

Large-Scale Investments Drive Industry Growth

The rapid expansion of the Vietnam steel industry has been supported by significant investments in modern steel complexes and advanced manufacturing technologies.

Large integrated steel projects, such as Hoa Phat Dung Quat Steel Complex, have enabled the production of high-value steel products, including engineering steel, tire cord steel, welding wire steel, prestressed steel, and structural steel. These facilities are also expected to support future infrastructure projects, including high-speed railway development.

Such investments have enhanced product quality, diversified production capacity, and improved the competitiveness of Vietnamese steel products in both domestic and international markets.

Vietnam Strengthens Its Position in Global Steel Production

Vietnam ranked 12th globally in crude steel production in 2023, with an output of approximately 20 million tons. By 2025, production had increased to 24.6 million tons, making Vietnam the largest steel producer in Southeast Asia and the world’s 11th-largest producer.

A major contributor to this growth has been Hoa Phat Group, which produced approximately 11 million tons of crude steel in 2025, accounting for nearly 45% of the country’s total output.

Looking ahead, Hoa Phat’s crude steel production is expected to exceed 14 million tons in 2026, representing a 30% increase compared to the previous year. This additional capacity is expected to help maintain Vietnam’s position among the world’s top 10 steel-producing countries.

Outlook for the Vietnam Steel Industry

The entry into the global top 10 marks a new chapter for the Vietnam steel industry. Supported by rising domestic demand, infrastructure development, manufacturing growth, and continued investment in modern production facilities, the industry is well-positioned for further expansion.

As Vietnam strengthens its industrial capabilities and integrates more deeply into global supply chains, the steel sector is expected to remain a key driver of economic growth and industrial development in the years ahead.

Source: Government Electronic Newspaper

30/05/2026