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Vietnam used to import steel on a large scale, so what made our country suddenly surpass many long-standing industries to reach the top 10 global crude steel production?
For the first time in history, Vietnam has officially entered the group of 10 largest crude steel producing countries in the world. This is no longer a story of the construction materials industry alone, but a signal that Vietnam's heavy industry is accelerating at an unprecedented scale.
According to data from the World Steel Association, Vietnam's crude steel output has surpassed many long-standing industrial countries such as Italy, France and Canada in recent times.
GLOBAL CRUDE STEEL PRODUCTION RANKING
Country Estimated Production
China More than 1 billion tons
India More than 140 million tons
Japan About 85 million tons
America About 80 million tons
Russia About 70 million tons
Korea About 65 million tons
Germany About 35 million tons
Türkiye About 35 million tons
Brazil About 33 million tons
Vietnam Increases continuously
The biggest driving force comes from the rapid expansion of Hoa Phat, Formosa Ha Tinh and a series of supporting industrial steel projects.
In particular, Hoa Phat is now considered the "steel locomotive" of Vietnam when continuously expanding Dung Quat and entering deeply into HRC hot rolled steel coils, a field that was once dominated by China and Japan.g treatment for many years
TABLE OF LARGEST STEEL ENTERPRISES IN VIETNAM
Business Strengths
Hoa Phat HRC, construction steel, Dung Quat
Formosa Ha Tinh Large-scale industrial steel
Hoa Sen Corrugated iron plated and exported
Nam Kim Ton steel export
Pomina Construction steel
What surprises the international financial community is that Vietnam is growing steel while many major economies are declining in output due to high energy costs and falling real estate demand.
While Europe is under pressure from electricity prices and the US is facing high labor costs, Vietnam has strong advantages in marine logistics, industrial electricity and the ability to attract FDI.
Another extremely important factor lies in the wave of infrastructure investment.
North-South expressway, Long Thanh airport, ring road, metro, seaport and energy projects have created huge demand for steel for many years.
STEEL DEMAND TABLE FROM INDUSTRIES
Impact Industry
Transport infrastructure Consumption of construction steel is extremely large
Offshore wind power High demand for technical steel
Data center Industrial structure
LNG plant Tanks and pipelines
Industrial real estate Increasing HRC consumption
In particular, the trend of shifting supply chains away from China is helping Vietnam become the new production center of Southeast Asia.
Many international corporations now prioritize locating factories in Vietnam instead of China or Thailand due to competitive costs and strategic location.
However, behind this growth rate there are still many great pressures
VIETNAM STEEL INDUSTRY CHALLENGE SHEET
The Problem of Influence
Anti-dumping tax Impact on exportpassword
Iron ore fluctuations Increase production costs
Pressure on carbon emissions Risk of CBAM being tightened by the EU
Chinese Competition Cheap steel prices flood the market
The EU is currently implementing the CBAM mechanism to impose a carbon tax on imported steel, which forces Vietnamese businesses to invest heavily in green technology if they want to keep the European market.
Therefore, the future steel game will no longer be just about output but also about clean steelmaking technology, green hydrogen and optimizing emissions.
Vietnam reaching the top 10 in the world is not simply a statistical achievement. This is a sign that Vietnam's heavy industry has entered a completely different stage, where domestic enterprises begin to compete directly with global corporations.
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