According to the Vietnam Steel Association, Vietnam’s steel market continued to record positive growth in the first half of 2026, supported by recovering domestic demand from public investment, infrastructure construction and real estate. 

Finished steel production reached 18.21 million tons, up 15.1% year-on-year, while sales volume reached 17.95 million tons, up 14.2%.

Vietnam’s crude steel production in the first six months reached 15.18 million tonnes, up 26.9% year-on-year. Crude steel consumption reached 14.81 million tonnes, up 25.5%, while crude steel exports stood at nearly 1.7 million tons, up 5.3%.

The recovery was also reflected in the business results of several steel companies. Hoa Phat recorded consolidated revenue of VND 108.87 trillion in the first half, up 47%, while after-tax profit reached VND 15.48 trillion, up 103%. The steel segment remained the main driver, contributing 96% of the group’s revenue and 68% of consolidated profit.

Other steelmakers also reported positive results. Nam Kim Steel posted after-tax profit of VND 124 billion in the first half, doubling from the same period last year, despite a 6.2% decline in revenue. 

However, steel exports still faced pressure from weak demand in the EU and the US, competition from Chinese steel, the EU’s CBAM, and trade defense measures in several markets.