Vietnam has officially joined the world’s top 10 steel-producing nations for the first time, marking a landmark moment for the country’s rapidly expanding steel industry.

According to Worldsteel data, Vietnam produced around 2.1 million metric tonnes of crude steel last month, a 4 per cent rise year-on-year. Between January and April 2026, total crude steel output reached nearly 8.5 million metric tonnes, an impressive 8.4 per cent increase compared to the same period last year. Vietnam’s rise has been partly aided by Iran’s slip to 12th position, following disruptions caused by reported attacks on major Iranian steel plants. Ongoing geopolitical tensions between Iran and the United States may further help Vietnam consolidate its top-10 ranking through the year.

The country’s steel journey has been remarkable. In 2000, Vietnam relied heavily on imported billets to meet basic construction demand. Since 2010, it has steadily built self-sufficiency and moved into advanced steel production for shipbuilding, renewable energy, mechanical engineering and defence manufacturing. Vietnam recorded its highest-ever crude steel output in 2025 at around 24.6 million metric tonnes, a 12 per cent jump from the previous year. Steel exports also crossed 3 million metric tonnes, reflecting growing global demand for Vietnamese steel.

Leading this charge is Hoa Phat Group, whose Dung Quat steel complex produces engineering, rail, structural and high-speed railway steel. In 2025, Hoa Phat produced nearly 11 million metric tonnes, almost 45 per cent of Vietnam’s total output and is expected to exceed 14 million metric tonnes in 2026.

The Vietnam Steel Association projects sector growth of 8–10 per cent in 2026, with finished steel production expected to reach between 33 and 34.5 million metric tonnes.