Since 2015, Vietnam has become one of the leading producers and consumers of finished steel in ASEAN, ranking 12th globally in crude steel production in 2023 with an output of 20 million tons.
The US Department of Commerce (DOC) has initiated an anti-dumping and countervailing duty investigation into corrosion-resistant steel (CORE) imported from Vietnam, alongside nine other countries and territories.
Vietnam plans to develop green and energy-saving steel products, and increase the market share of domestically produced steel to gradually replace imports.
Vietnam's steel industry is facing fiercer competition from foreign rivals as imported products, particularly those from China, have flooded the domestic market, raising fears of market saturation. Industry experts have warned that without prompt action, domestic producers could be pushed to the brink.
The central province of Thua Thien – Hue is calling for investment in a 32 trillion VND (1.28 billion USD) steel project in Chan May – Lang Co Economic Zone.
