Vietnam Steel Import Landscape (2021–2026): Trade Defense & Strategic B2B Sourcing
Executive Summary / Key Takeaways
The Vietnam steel import landscape (2021–2026) is undergoing a major structural realignment marked by severe supply chain pressures, shifting trade defense mechanisms, and evolving regional market dynamics. Total import volumes remain high—ranging between 12.0 and 16.5 million metric tons annually—driven heavily by low-cost Chinese imports during its domestic real estate downturn.
However, strict regulatory interventions by the Ministry of Industry and Trade (MOIT)—most notably Decision 612/QĐ-BCT imposing a 27.83% anti-circumvention duty on wide-width Hot Rolled Coil (HRC)—alongside China’s mandatory export licensing policies in 2026, are reshaping trade flows.
Domestic primary producers like Hòa Phát and Formosa Hà Tĩnh have reclaimed critical HRC market share, while regional competitors such as Indonesia have surged into the #2 supply position. For B2B procurement officers, EPC contractors, and steel fabricators, navigating this shifting landscape requires stringent origin verification, technical compliance tracking, and dynamic supply chain hedging.
Vietnam Steel Import Market Overview (2021–2026)
| Metric | Historical Baseline (2021–2023) | Peak Expansion (2024–2025) | Market Outlook (2026) |
|---|---|---|---|
| Annual Import Volume | 12.0–14.5 Million MT | 16.09 Million MT (2025 peak) | 12.5–14.0 Million MT (Stabilizing) |
| Estimated Annual Import Value | $9.5–11.5 Billion USD | $11.21 Billion USD | $9.8–10.5 Billion USD |
| Dominant Exporter Market Share | China (45%–50%) | China (50%–55%) | China (55%–58%), Indonesia (8%–11%) |
| Primary Regulatory Focus | Initial Anti-Dumping Investigations | Decision 460/QĐ-BCT (Temporary AD) | Decision 612/QĐ-BCT (Anti-Circumvention) |
Top 10 Exporters to Vietnam: Market Share & Technical Breakdown
1. China (55% – 58% Market Share)
Volume/Value: 8.0–9.5 Million MT | $5.5–6.5B USD
Core Products: Hot Rolled Coil (HRC), Galvanized Sheet Steel, Alloy & Technical Steels.
Market Dynamics: Maintains absolute dominance due to substantial cost advantages. Subject to aggressive anti-dumping actions by Vietnamese authorities.
2. Indonesia (8% – 11% Market Share)
Volume/Value: 1.2–1.8 Million MT | $1.1–1.4B USD
Core Products: Stainless Steel (Hot Rolled/Cold Rolled), Low-Cost HRC, Steel Billets.
Market Dynamics: Explosive growth (~80% volume increase across 2024–2025). Driven by Chinese FDI industrial parks leveraging low extraction/processing costs.
3. Japan (9% – 11% Market Share)
Volume/Value: 1.7–2.0 Million MT | $1.3–1.6B USD
Core Products: High-Grade Alloy Steel, Premium HRC, Structural Engineering & Automotive Steels.
Market Dynamics: High value density due to specialized engineering applications that domestic production cannot yet replicate.
4. South Korea (8% – 10% Market Share)
Volume/Value: 1.4–1.7 Million MT | $1.2–1.5B USD
Core Products: Cold Rolled Coil (CRC), Electro-Galvanized Steel, Shipbuilding Plates, Mechanical Steels.
Market Dynamics: Supported by supply contracts with Vietnam-based South Korean electronics manufacturing hubs and shipbuilding operations.
5. Taiwan (3.5% – 4.5% Market Share)
Volume/Value: 600–800 Thousand MT | $500–700M USD
Core Products: Wire Rods, Cold Rolled Stainless Steel, Fasteners & Hardware Stock.
Market Dynamics: Serves specialized industrial fabrication, hardware manufacturing, and secondary processing sectors.
6. India (2.5% – 4.0% Market Share)
Volume/Value: 400–700 Thousand MT | $350–550M USD
Core Products: Steel Billets, Wide-Width HRC.
Market Dynamics: Experienced high volatility due to defensive tariffs and regulatory scrutiny from Vietnam’s trade authorities.
7. Russia (2.0% – 3.0% Market Share)
Volume/Value: 300–500 Thousand MT | $250–400M USD
Core Products: Steel Billets, Ferrous Scrap.
Market Dynamics: Contracted relative to 2021 due to international sanctions, banking restrictions, and redirected supply chains.
8. Malaysia (1.5% – 2.0% Market Share)
Volume/Value: 200–350 Thousand MT | $180–300M USD
Core Products: Alloy Steel Bars, Steel Billets, Ferrous Scrap.
Market Dynamics: Fills specific structural niches and secondary re-rolling requirements within ASEAN trade agreements.
9. Thailand (1.0% – 1.5% Market Share)
Volume/Value: 150–250 Thousand MT | $150–220M USD
Core Products: Specialized Steel Pipes, Structural Shapes, Automotive Tubing.
Market Dynamics: Niche supply focused on specialized commercial construction and vehicle assembly lines.
10. Australia (0.8% – 1.2% Market Share)
Volume/Value: 100–200 Thousand MT | $100–180M USD
Core Products: High-Grade Ferrous Scrap, Coking Coal, Raw Iron Ore.
Market Dynamics: Primary raw material supplier for upstream integrated domestic blast furnaces.
Trade Defense Enforcement & Circumvention Countermeasures (2025–2026)
The Wide-Width HRC Circumvention Issue
Following the implementation of temporary anti-dumping duties under Decision 460/QĐ-BCT targeting Chinese HRC imports with widths ≤ 1,880 mm, foreign exporters shifted product declarations to wider profiles ranging between 1,900 mm and 2,000 mm. This tariff-shifting tactic caused wide-width HRC import volumes to surge by 26 times during mid-2025, bypassing intended protectionist barriers.
Import Circumvention Strategy
Width Shift: ≤1,880 mm → 1,900–2,000 mm
Impact: 26x Import Spike (Mid-2025)
Regulatory Action: Decision 612/QĐ-BCT
Extended Tariff Scope: 1,880 mm–2,300 mm
Result: Mandatory 27.83% Anti-Circumvention Duty
Upstream Export Regulations in China
Compounding Vietnam’s trade defense measures, the Chinese Government implemented mandatory export licensing mechanisms on semi-finished steel products and billets. This regulatory tightening at the source has restricted unregulated volume flow into Southeast Asia.
Market Impact on Domestic Mills & B2B Procurement
- Market Share Realignment: The closure of tariff loopholes and Chinese export restrictions enabled major domestic producers—primarily Hòa Phát (via Dung Quất expansion) and Formosa Hà Tĩnh—to reclaim control over domestic HRC supply.
- Stabilization of Import Volumes: Following a peak import activity of 16.09 million MT ($11.21 billion USD) in 2025, overall steel imports are trending downward toward a stable domestic self-sufficiency ratio.
- B2B Sourcing Risk Management: EPC contractors and procurement managers face elevated exposure to sudden tariff adjustments, Customs origin audits, and potential non-compliance liabilities if importing non-verified mill lots.
Efreso B2B Industrial Supply Solutions
As an integrated commercial supply platform, Efreso provides engineered sourcing strategies designed to insulate B2B buyers from global trade defense volatility and supply chain disruptions.
- 100% Certified Origin & Traceability: Guaranteed compliance with full Mill Test Certificates (MTC), verifiable Certificates of Origin (CO), and complete Certificates of Quality (CQ) conforming to international standards (ASTM A36, JIS G3101 SS400, Q235, Q355).
- Tariff Risk Mitigation: Direct supply agreements with domestic producers (Hòa Phát, Formosa) and fully cleared, import-compliant mill stock to eliminate post-clearance duty assessments.
- Optimized Logistics & Warehouse Inventory: Scalable supply options for structural steel, heavy plates, HRC, and specialized alloy products delivered directly to job sites or fabrication yards.
Optimize Your B2B Steel Procurement Today
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