23/03/2026
🇻🇳 Vietnam’s Steel Imports Crash 42.6% in February – Market Cooling Down?
Vietnam’s steel imports saw a sharp drop in February 2026, falling to 873,107 tons, down 42.6% compared to January, according to Vietnam Customs data.
This sudden decline is raising questions across the Asian steel market.
📊 What’s behind the numbers?
• 🇨🇳 China remains Vietnam’s biggest steel supplier, but exports to Vietnam plunged 63.2% in February.
• 🇰🇷 South Korea moved in the opposite direction, with shipments up 9.6%.
• 🇮🇳 India shocked the market, with exports to Vietnam surging over 1000%.
Meanwhile, scrap imports reached 432,882 tons, down 14.7% year-on-year, signaling weaker raw material demand.
📉 Year-to-date (Jan–Feb 2026):
Vietnam imported 2.39 million tons of steel, down 4.5% YoY.
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⚠️ Possible reasons behind the drop:
• Post-Lunar New Year demand slowdown
• Inventory adjustments by Vietnamese buyers
• Shifting regional trade flows
• Cautious purchasing amid global steel price volatility
Vietnam is one of Southeast Asia’s most important steel markets, so changes here often impact regional trade flows.
💬 Market question:
Will Vietnam’s steel demand rebound in March–Q2, or are we entering a slower steel cycle in 2026?
👇 Tell us your view.
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