Vietnam’s steel imports fell sharply to around 873,000 tons in February 2026, down 42.6% month-on-month, according to data from the Vietnam Customs. Scrap imports also declined 14.7% year-on-year to about 433,000 tons during the month. 

In the first two months of 2026, steel imports totaled 2.39 million tonnes, down 4.5% year-on-year, while scrap imports rose 14.9% to 940,000 tons. 

China was the largest steel supplier in February despite a steep 63.2% drop, followed by South Korea, Indonesia, Japan, India, and Taiwan. Notably, imports from India surged by more than 1000%, while shipments from most other major suppliers declined.