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Vietnam Joins World's Top 10 Steel Producers for the First Time
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2026-08-21
Vietnam has entered the world's top 10 steel-producing countries for the first time after surpassing Italy in crude steel output, according to the World Steel Association. The country produced 2.1 million tons of crude steel during the latest reporting period, a 4% year-on-year increase.
From January to April 2026, Vietnam's crude steel production reached 8.5 million tons, up 8.4% from the same period last year. Meanwhile, Iran fell from the top 10 to 12th place after disruptions caused by attacks on major steel facilities, further strengthening Vietnam's position among the world's leading steel producers.
The Vietnam Steel Association attributed the achievement to the industry's rapid modernization and expanded product range. Once reliant on imported billets, Vietnam now manufactures a wide variety of value-added steel products, including engineering steel, bolt and screw steel, spring steel, and rail steel.
Leading producer Hoa Phat Group played a major role, contributing 11 million tons in 2025, or nearly 45% of the country's output. Its crude steel production is forecast to exceed 14 million tons in 2026, supporting Vietnam's continued growth as Southeast Asia's largest steel producer.
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