[Vietnam] Vietnam’s steel exports rise in 7M 2026, but trade deficit exceeds $2 billion

Published: Aug 17, 2026 15:21

Save

Vietnam exported nearly 7 million tonnes of steel worth around $4.5 billion in the first seven months of 2026, up significantly year on year, with exports to the US reaching about 913,000 tonnes worth over $581 million, while Cambodia imported more than 900,000 tonnes. However, steel imports remained higher at over 9 million tonnes valued at approximately $6.6 billion, leaving the sector with a trade deficit of around $2.1 billion. Steelmakers are expected to face increasing pressure from tariffs, trade remedies and environmental requirements, particularly the EU’s CBAM, which could accelerate investment in lower-emission production technologies.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 mins ago

[SMM Steel]

[Sheets & Plates] Today, export prices for HRC and some other sheets & plates were mostly stable and edged up on a daily basis, with HRC transaction prices at $484-487/mt. Today, market trading sentiment was average, and on the sheets & plates side, there was little heard about firm deals.

11 mins ago

17 mins ago

[SMM Steel]

[SMM Steel] According to market feedback, for Q235B with an October shipment schedule, medium-thickness plates with a specification of 14-30 mm were traded at a free-on-board price of $530/mt, with the shipping port being Tianjin port.

17 mins ago

19 mins ago

[SMM Steel] Export Prices Hold Steady as Project-Linked Demand Rises

[Vietnam] Vietnam’s steel market remained stable, with construction steel prices holding at around 531 USD/tonne EXW and HRC at approximately 515–522 USD/tonne CFR Ho Chi Minh City. Export prices remained largely unchanged as mills faced increasing pressure from trade remedies, tariffs and stricter environmental standards in overseas markets. Meanwhile, project-linked sales are showing stronger momentum as big cities like Ho Chi Minh City begins construction and inaugurates projects around National Day, supporting demand for construction steel and providing a positive signal for the domestic market.

19 mins ago