Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vietnamese steelmakers need to focus on diversifying their export markets, state experts from various trade-related bodies in the country. In the past few years, five countries, including those which constitute major export markets, have launched trade defense lawsuits against Vietnam, according to media reports.


Vietnam Steel Association (VSA) estimates that the country dealt with 62 trade lawsuits in 16 years since 2004, of which over 50pc were anti-dumping cases. The country’s major export markets consist of Indonesia, Malaysia, and China. It is now looking to explore opportunities in other regions like Australia and Europe. Agreements like the Comprehensive and Progressive Trans-Pacific Partnership and European Union – Vietnam Free Trade Agreement could prove to be significant opportunities.


Vietnamese steel exports stood at $1.83bn in Q1 2021, a rise of 65.2pc from Q1 2020. In 2020, steel exports totaled 8mn mt amounting to $4.19bn. 

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