According to Experts Club, Vietnam is showing the highest growth rates in steel production among the world’s top ten countries, as evidenced by data published on September 24 by the World Steel Association.
In August 2026, the country produced approximately 2.7 million metric tons of steel, increasing output by 36.4% compared to August of last year.
From January through August, production reached 20.6 million metric tons, rising by approximately 29% year-over-year. This represents the highest growth rate among the world’s largest producers.
Based on cumulative results, Vietnam is already among the top ten global steel producers, closing in on Brazil in terms of production volume; Brazil produced 21.8 million metric tons over the same eight-month period.
By comparison, the world’s largest producer—China—reduced production by 3.1% to 651.9 million metric tons over the same period, while India increased its output by 6% to 115.9 million metric tons. The United States increased production by 5.5%, Turkey by 6.8%, and Germany by 6.3%.
As a result, the global steel market is becoming increasingly heterogeneous: despite an overall 0.7% decline in production from January through August, certain Asian markets continue to rapidly expand their capacity and production volumes.
The difference is particularly noticeable within Asia. In August, production across the Asia-Pacific region fell by 1.4% due to a decline in output in China, while India and Vietnam continued to grow.
As of the end of August, countries in Asia and Oceania accounted for 106.7 million metric tons of the 144.2 million metric tons of global output, or about 74% of global steel production.
