Posted on 29 May 2026
In April, Vietnam emerged as the 10th top crude steel producer in the world with an estimated production of 2.1 million tonnes. This landmark achievement marks the first time Vietnam has entered the top ten, surpassing Italy, as per the World Steel Association’s data.
During the first quarter of 2026, Vietnam’s crude steel production reached 8.5 million tonnes, marking an 8.4% rise from the previous year. The growth of Vietnam’s steel sector has been both quick and diverse. Initially, domestic manufacturers relied heavily on imported billets for the production of construction steel in the early 2000s.
However, significant progress has been made since 2010, with the industry achieving self-sufficiency. At present, Vietnam is capable of manufacturing a wide array of steel products that cater to sectors like mechanical engineering, shipbuilding, energy, and defense.
Prominent steel companies have launched large-scale and modern steel complexes. Noteworthy among these is Hoa Phat Group’s Hoa Phat Dung Quat Iron and Steel Integrated Complex. The facility is renowned for producing top-tier, specialized steel products such as engineering steel, tire cord steel, welding wire, spring steel, crane steel, prestressed steel, and rail steel for high-speed railways.
In comparison to the 20 million tonnes produced in 2023, Vietnam’s crude steel output increased to 24.6 million tonnes in the previous year. This placed the country as the leading crude steel producer in Southeast Asia and the 11th globally.
Hoa Phat, one of the country’s significant steel producers, contributed to 44.7% of the total production, equivalent to 11 million tonnes. The company’s annual yield is projected to rise by 30% year-on-year to exceed 14 million tonnes this year.
What position did Vietnam secure in the global ranking of crude steel producers in April?
Vietnam emerged as the 10th top crude steel producer in the world in April.
What significant transformation has Vietnam’s steel sector undergone since the early 2000s?
From relying heavily on imported billets for construction steel in the early 2000s, Vietnam’s steel sector has achieved self-sufficiency and can now produce a wide array of steel products.
What is the projected annual yield of Hoa Phat for this year?
Hoa Phat’s annual yield is expected to surpass 14 million tonnes this year, marking a 30% year-on-year increase.
Source:Retail News Asia
