Vietnam’s steel exports declined by 13pct in the first half of 2025, with export revenue falling 22.5pct YoY to USD 3.7 bln, according to the Vietnam Steel Association (VSA).
Despite the export slump, domestic production and sales showed growth. Finished steel output reached nearly 15.83 mln tons in H1 2025, up 9.7pct from the same period last year, while sales rose 10.2pct to nearly 15.73 mln tons.
In June alone, Vietnam exported 931,365 tons of steel valued at USD 611.5 mln, reflecting modest month-on-month growth of 4.3pct in volume and 1.9pct in value.
VSA attributed the sharp drop in export value to weaker global steel prices, which outpaced the decline in export volumes. The association also cited persistent challenges in the global market, including tariff barriers, trade protection measures, geopolitical tensions, new regulations, and ongoing market volatility, all of which have dampened global steel demand.
Looking ahead, the domestic market is expected to rebound in the second half of 2025, driven by increased production and consumption. However, exports may continue to face headwinds due to ongoing oversupply and price pressure in international markets.
