Specifically, in April 2026, Worldsteel estimates that Vietnam's crude steel (steel billet) output will reach 2.1 million tons, up 4% over the same period last year. With this output, Vietnam has surpassed Italy to reach the Top 10 countries with the largest steel industry. Accumulated in the first 4 months of the year, Vietnam produced 8.5 million tons of crude steel, an increase of 8.4% over the same period in 2025.
Iran, a country in the Top 10 from February 2026 onwards, has dropped to 12th place with 1.8 million tons. The reason is that the conflict in the Middle East has seriously affected two Iranian steel factories, Khuzestan and Mobarakeh. With the war between the US and Iran not ending, the position of Top 10 steel producing powers in 2026 will belong to Vietnam.
According to the Vietnam Steel Association, the steel industry has developed significantly in both production scale and product types. In 2000, steel factories mainly had to import billets from abroad to roll construction steel to serve the market.
However, from 2010 up to now, Vietnam's steel industry has made great strides in autonomously producing all types of steel to meet all needs of the economy serving the mechanical engineering industry, shipbuilding, energy (wind power, drilling rigs...) to the defense industry.
Many large-scale, modern steel production complexes have been invested and put into operation such as Hoa Phat Dung Quat Iron and Steel Complex, a pioneer in the production of difficult, high-quality steels such as mechanical engineering steel, steel for automobile tires, welded wire steel, steel for springs, screws, steel for cranes, pre-stressed steel, especially high-speed railway rail steel, and shaped steel.
In 2023, Vietnam ranks 12th in the world in crude steel production with an output of 20 million tons. In 2025, Vietnam records crude steel output of 24.6 million tons, the largest in Southeast Asia, Top 11 in the world; Of which, Hoa Phat Group contributed the largest amount with 11 million tons, equivalent to 44.7%. Next are enterprises belonging to Vietnam Steel Corporation (Vnsteel), Formosa,...
In 2026, Hoa Phat Group's crude steel output is expected to reach over 14 million tons, an increase of 30% compared to 2025, strengthening Vietnam's position in the Top 10 leading steel producing countries in the world.
Source: https://baotintuc.vn/