Vietnam imported 612,000 tons of scrap steel in July alone, nearly matching Taiwan's total import volume of 660,000 tons for the first half of the year. Last year, Vietnam’s imports exceeded 5 million tons, whereas Taiwan recorded only 1.65 million tons.

Driven by active construction sectors and major infrastructure projects, Vietnam’s steel manufacturing expanded rapidly. Suppliers of Japanese, American, and Australian scrap redirected shipments toward Vietnam due to stagnant construction activity and shrinking steel demand in Taiwan.