Vietnam earns $3.7 bln from steel exports in H1, down 22.5%

Vietnam raked in $3.7 billion from exporting 5.66 million tons of steel in the first half of 2025, down 13% in volume and 22.5% in value year-on-year.

In H1, the country produced nearly 15.83 million tons of finished steel, up 9.7% from the same period last year. Sales of finished steel totaled nearly 15.73 million tons, a 10.2% increase, according to the Vietnam Steel Association (VSA).

In June alone, Vietnam shipped abroad 931,365 tons of various steel products, worth approximately $611.5 million, reflecting modest growth of 4.3% in volume and 1.9% in value compared to the previous month.

The VSA attributed to the decline in H1 export value to falling global steel prices, which led to a sharper fall in export revenue than in volume.

It also noted the steel market in the past six months faced many challenges related to tariff barriers, trade protection measures, political conflicts, a slew of new policies, and the unstable developments in the global steel market - all of which have affected steel demand.

The second half of 2025 is expected to mark a strong recovery in the domestic market, with forecasts for increased production and consumption. However, exports are expected to continue struggling, as global prices remain under pressure from oversupply.

In 2024, finished steel exports reached oveer 8.04 million tons, a slight decrease of 0.6% compared to the same period in 2023.