As the Vietnamese economy is in a stable development stage, many real estate projects and transportation infrastructure are under construction, and the current steel production industry in Vietnam is showing good growth.

As of the end of May 2018, the total export volume of steel was 2.36 million tons, and the total export volume reached 1.76 billion US dollars. The export volume and export volume increased by 41.9% and 57.8% respectively. The main export market for Vietnam's steel is ASEAN, of which Cambodia is 491,000 tons, up 48.4%; Indonesia is 301,000 tons, up 25.4%; Malaysia is 292,000 tons, up 99%. In addition, the United States 368,000 tons, an increase of 104%; the EU 288,000 tons, an increase of 146%.

In the first half of 2018, the production output of crude steel, rolled steel, angle steel and other products increased by 43.7%, 5.3% and 16% respectively.

It is expected that in the second half of 2018, the Vietnamese steel production industry will continue to maintain a good growth trend and is expected to grow by 20% year-on-year. Among them, construction steel production increased by 10%, cold rolled coils increased by 5%, and welded steel increased by 15%.

It is worth noting that Vietnam’s Hejing Formosa Group plans to put No. 2 blast furnace (average annual power of 4 million tons) into production in the second half of 2018 and plans to triple its annual production capacity (7-8 million tons). It helped to drive strong growth in HRC production, up 154% year-on-year.

In addition, some projects will be put into operation this year as planned. Specifically, Vietnam Hefa Group will start production of 600,000 tons of steel in August 2018; Vietnam Donghe Steel also plans to put into production of 600,000 tons of construction steel in the second half of this year.