Vietnam Enters Global Top 10 Steel Producers; HPG Leads with 44.7% Share
This Aveluro analysis covers HPG (Tập đoàn Hoà Phát) in the Metals sector. The classified event type is sector sentiment, with positive sentiment and a deterministic market-impact score of 4.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Vĩ mô đầu tư, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Vietnam entered the global top 10 steel producers for the first time in April 2026, with crude steel output reaching 2.1 million tons, up 4% year-on-year. Hoa Phat Group (HPG) contributed 44.7% of the country’s total output, underscoring its dominant role in the sector. The milestone reflects Vietnam’s growing industrial capacity and export competitiveness.
Key Facts
- Vietnam’s crude steel output in April 2026: 2.1 million tons, +4% YoY (Worldsteel).
- Vietnam ranked 10th globally, surpassing Italy; Iran dropped to 12th due to bombing of its steel plants.
- Cumulative output in the first four months of 2026: 8.5 million tons, +8.4% YoY.
- Hoa Phat Group (HPG) contributed 44.7% of national output in 2025, producing 11 million tons.
- Vietnam’s steel export value in 2025 reached approximately USD 6.63 billion, with volume of 10.06 million tons.
- Domestic steel consumption in 2025: 24.1 million tons, +12.9% YoY.
- Vietnam’s steel industry is forecast to grow 8-10% in 2026, with finished steel production estimated at 33-34.5 million tons.
What Happened
According to the World Steel Association (Worldsteel), Vietnam’s crude steel output in April 2026 reached an estimated 2.1 million tons, a 4% increase year-on-year. This output lifted Vietnam into the global top 10 for the first time, surpassing Italy. Iran, previously in the top 10, fell to 12th place after its Khuzestan and Mobarakeh steel plants were bombed by Israel, disrupting production.
The Vietnam Steel Association noted that the country’s steel industry has achieved self-sufficiency in producing all types of steel, from construction to high-end products for mechanical engineering, shipbuilding, energy, and defense. Key integrated steel complexes like Hoa Phat Dung Quat have pioneered production of difficult, high-quality steel grades, including rail steel for high-speed railways.
Market Context
HPG shares closed at VND 24,100 on May 25, 2026, up 0.63% on volume of 26.99 million shares. The stock trades on HOSE. Vietnam’s steel sector has benefited from strong domestic demand and export growth, with 2025 consumption rising 12.9% YoY. The country’s entry into the top 10 global producers reinforces the sector’s positive momentum, though global trade tensions and input cost volatility remain risks.
Strategic Significance
HPG’s dominant 44.7% share of national output positions it as the primary beneficiary of Vietnam’s rising steel production profile. The company’s integrated Dung Quat complex enables it to produce high-value steel grades, supporting margins and export competitiveness. The milestone also signals Vietnam’s growing role in global steel supply chains, potentially attracting foreign investment and partnerships. However, the industry faces headwinds from potential anti-dumping measures and global overcapacity.
What to Watch
- HPG’s Q2 2026 earnings release for production volume and margin trends.
- Worldsteel monthly data for Vietnam’s continued top-10 ranking.
- Any trade policy changes from key export markets (US, EU, ASEAN).
- Progress of HPG’s capacity expansion projects, including Dung Quat 2.
- Global steel price movements and raw material costs (iron ore, coking coal).