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The Vietnam Steel Association (VSA) stated that although the global steel industry is gradually recovering, Vietnam's steel sector will continue to face significant pressure in the second half of the year due to rising trade protectionism and increasingly stringent green trade barriers. JIS G 3302 SGCH+A steel, The association has recommended that the government implement measures to strengthen domestic market protection, enhance the international competitiveness of enterprises, and foster stable growth in steel exports.
Speaking at a conference on achieving double-digit export growth—held by the Ministry of Industry and Trade on June 25—Dinh Quoc Thai, Vice Chairman and Secretary General of the VSA, noted that data from the World Steel Association (Worldsteel) shows positive growth in global crude steel production during the first four months of the year. JIS G 3302 SGCH+A steel, This trend reflects a rebound in manufacturing activity and sustained improvement in demand from downstream steel-consuming industries.
Vietnam's steel industry chain has maintained an overall recovery trend, with growth recorded across the board—from raw material production to the manufacturing of finished steel products. In May, Vietnam's crude steel output reached 2.6 million tonnes, a year-on-year increase of 27.2%, marking the fastest growth rate among the world's top ten steel-producing nations; cumulative crude steel production for the January–May period totaled 12.6 million tonnes, up 26.8% year-on-year.
The Vietnam Steel Association projects that crude steel output for the first half of 2026 will reach approximately 14.8 million tonnes, a year-on-year rise of 21.2%, while steel consumption is expected to hit 17.9 million tonnes, up 13.1%. However, due to slowing external market demand and rising trade barriers, steel exports for the first half of the year are forecast at approximately 1.79 million tonnes, a year-on-year decline of 4.8%.
Despite facing pressure on exports, the association remains optimistic about the industry's development for the year. JIS G 3302 SGCH+A steel, Vietnam's crude steel production is projected to reach approximately 27 million tonnes in 2026, a year-on-year increase of 10%, while finished steel output is expected to hit around 33 million tonnes and domestic consumption about 28 million tonnes. Steel exports for the year are forecast at approximately 6 million tonnes, whereas imports are expected to decline compared to 2025.
Dinh Quoc Thai noted that the growth in exports and the drop in imports reflect the positive results of domestic market management measures and the effectiveness of trade policies implemented by the Ministry of Industry and Trade; they also demonstrate the steadily increasing capacity of Vietnamese steel enterprises to meet market demand.
However, he noted that the industry would continue to face multiple challenges in the second half of the year. Global oversupply of steel is intensifying, and major export markets are increasingly implementing trade protectionist measures. For instance, the United States has imposed import tariffs of up to 50% on certain steel products under Section 232 of the Trade Expansion Act of 1962, while also initiating additional trade remedy investigations targeting Vietnamese steel.
Furthermore, as major global markets raise requirements for greenhouse gas emission reductions and gradually implement Carbon Border Adjustment Mechanisms (CBAM), the costs and compliance pressures associated with Vietnamese steel exports will also increase.
Regarding raw materials, although Vietnam has improved its self-sufficiency in certain areas in recent years, it remains heavily reliant on imports for key steelmaking inputs such as iron ore and scrap steel, leaving supply chain security exposed to certain risks.
The Vietnam Steel Association believes that, despite slowing global economic growth, persistent geopolitical tensions, and heightened volatility in international markets, Vietnam's economy demonstrates greater overall resilience than most ASEAN nations, providing a solid foundation for the steel industry's continued recovery.
To foster the industry's long-term sustainable development, the Association has proposed two strategic priorities: first, strengthening domestic market protections to prevent a surge of low-priced steel imports; and second, accelerating the green and digital transitions to enhance the ability of enterprises to adapt to new international market rules.
At the same time, the Association recommends that the government introduce long-term policies to encourage domestic steel investment and production, and promptly implement regulatory requirements mandating that imported steel meet national quality standards before entering the Vietnamese market.
In addition, the Vietnam Steel Association recommends further strengthening trade remedy investigations to combat unfair competition, while also increasing support for steel enterprises facing overseas trade remedy cases to help them maintain and expand export markets. At the same time, efforts should be made to accelerate the development of a national technical standard system for steel products, improve market monitoring and forecasting mechanisms, and enhance the ability of enterprises to respond to market changes.
