Vietnam breaks into world’s top 10 steel producers for first time
DNO - Vietnam has surpassed Italy to enter the world’s top 10 largest steel-producing countries for the first time.
The World Steel Association (Worldsteel) recently unveiled its list of ranking of the world’s largest crude steel-producing countries.
According to the report, Vietnam has entered the world’s top 10 crude steel-producing nations for the first time.
Specifically, in April 2026, Worldsteel estimated Vietnam's crude steel (steel billet) production reached 2.1 million tons, a 4% increase compared to the same period last year.
With this production volume, Vietnam surpassed Italy to secure a place among the world’s top 10 steel-producing nations.
In the first four months of 2026, Vietnam produced 8.5 million tons of crude steel, a rise of 8.4% compared to the same period in 2025.
According to Worldsteel, the domestic steel industry has witnessed remarkable growth in both production scale and product diversification.
In 2000, steel plants largely relied on imported billets for rolling construction steel to meet market demand.
However, since 2010, Vietnam’s steel industry has made significant strides in achieving self-sufficiency. It has now been capable of producing a wide range of steel products serving mechanical engineering, shipbuilding, energy, and defence industry.
Several large-scale and modern steel production complexes have been developed and put into operation.
Notable among them is the Hoa Phat Dung Quat Iron and Steel Complex which has pioneered the production of high-quality and specialized steel products such as engineering steel, tire bead steel, welding wire steel, spring steel, screw steel, crane steel, prestressed steel, and notably steel rails for high-speed railways and structural steel products.
In 2023, Vietnam ranked 12th globally in crude steel production with an output of 20 million tons.
By 2025, the country recorded crude steel production of 24.6 million tons, making it the largest producer in Southeast Asia and the world’s 11th largest producer.
Among this output, Hoa Phat Group contributed the largest share with 11 million tons, equivalent to 44.7%, followed by enterprises under Vietnam Steel Corporation and Formosa.
In 2026, Hoa Phat Group’s crude steel output is projected to exceed 14 million tons, up 30% from 2025, further reinforcing Vietnam’s position among the world’s top 10 steel-producing nations.