Vietnam’s steel market in the first months of 2026 is witnessing a strong shift in the structure of import supply. In the context of the continued increase in demand for high-quality steel for industrial production and construction, many countries have quickly expanded their presence in Vietnam, especially India with a “record” growth rate. Notably, the trend of steel imports in the first 4 months reflects this significant change.
Steel imports reached more than 3.6 billion USD after 4 months
According to newly released data, in the first 4 months of 2026, Vietnam has imported about 5.04 million tons of steel with a total value of 3.61 billion USD. Although the import volume decreased slightly by 1.45% over the same period last year, the total turnover still increased by 0.15%, indicating that imported steel prices are inching up.
This analysis highlights the impact of steel imports in the first 4 months on Vietnam’s overall market dynamics.
Particularly in April 2026, steel imports will reach 1.43 million tons, equivalent to 1.01 billion USD, an increase of nearly 15% in output compared to the previous month. This reflects that domestic steel consumption demand remains high, especially in the fields of infrastructure, mechanical engineering and industrial production.
One of the notable points is that the average imported steel price has increased to about 716 USD/ton, up 1.63% over the same period in 2025. Global raw material price pressures and logistics costs are still factors that directly impact this trend.
China still leads but market share declines sharply
For many years, China has always been the largest supplier of steel in Vietnam thanks to the advantages of competitive prices and diverse product categories. However, the picture for 2026 shows a marked change.
The proportion of steel imports from China has plummeted from more than 58% to about 44.5% of total imports. In the first 4 months of the year, Vietnam imported about 2.25 million tons of steel from this market, worth about 1.52 billion USD, down more than 24% in output.
Not only China, but Japan also recorded a significant decline when steel exports to Vietnam decreased by more than 22%. Experts say that the trend of diversifying supply and price competition pressure are causing traditional markets to gradually lose their advantage.
Compare the performance of key schools in the first four months of 2026 with the first four months of 2025.
India emerges as a “new star”
In the context of the decline of major markets, India has suddenly become the most prominent bright spot of the imported steel industry this year.
According to statistics, steel imports from India reached more than 601 thousand tons with a value of about 308 million USD. Notably, the growth amounted to more than 12,000% in output and more than 2,000% in value over the same period last year — a figure that is considered an unprecedented spike in recent years.
This strong acceleration is believed to come from price advantages, rapidly expanding production capacity and the trend of shifting steel supply chains in Asia.
ASEAN and EU increase their presence in Vietnam
Besides India, the ASEAN region also recorded positive growth with more than 658 thousand tons of steel exported to Vietnam, up nearly 41% over the same period.
In particular, Indonesia plays a key role when accounting for nearly 88% of the total ASEAN steel imported into Vietnam. Countries such as Malaysia, Thailand and South Korea also maintained a steady upward momentum, focusing on steel lines for the manufacturing industry and high-tech production.
In the specialty steel segment, the European market also shows signs of significant expansion. Although production is not large, supply from countries such as Belgium, France or Sweden increased sharply by more than 216%, mainly serving the precision mechanics and renewable energy industries.
The trend of diversifying supply is becoming more and more obvious
The development of steel imports in the first months of 2026 shows that Vietnam is gradually reducing its dependence on some traditional markets to expand a more diverse supply network.
This is considered a positive trend in the context of the global steel market constantly fluctuating due to trade policies, raw material prices and international competitive pressure. At the same time, the increase in imports from many different countries also helps domestic enterprises have more choices in terms of product quality, price and technology.
Experts said that in the coming time, the competition between steel exporting countries to Vietnam will continue to become more intense, especially in the high-quality steel segment for the manufacturing industry and green transformation.
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